BASSETT, VA - Bassett Furniture Industries Inc. will invest $1.5 million to expand its residential furniture operations in Henry County, VA. The project will increase Bassett's custom casual dining business while adding 25 jobs over a three-year period, the company said.
“This investment will expand our production capacities, provide improved service for our customers, and position the facility for future growth,” Robert H. Spilman, Jr., Bassett’s president and CEO said in a statement. “This expansion underscores the importance of our local workforce and its ability to meet our customers’ needs, and build upon our founders’ legacy that began in 1902. Bassett Furniture is committed to this community and greatly values our partnership with local and state officials, who were instrumental in helping get the project underway. Bassett Furniture is Henry County born and bred and we owe a large part of our success to the superior workforce that you find right here in southwest Virginia.”
Calling Bassett (NSDAQ: BSET) a "true Virginia success story," Governor Bob McDonnell said, “Bassett employs hundreds of Virginians and has grown its business to serve customers across the United States and internationally. With a successful history in Henry County dating back more than 100 years, it is fitting for Bassett to expand here and demonstrates its utmost confidence in the local community and workforce. This expansion will continue to allow Bassett to leverage its customization capabilities and innovation and maintain its lead in the furniture industry.”
Announcement of the project was made December 18 by the governor's office. The project was made possible through assistance by the Virginia Economic Development Partnership, the Martinsville-Henry County Economic Development Corporation and the Mid-Atlantic Broadband Communities Corporation. Gov. McDonnell also approved a $50,000 grant from the Governor’s Opportunity Fund to assist Henry County with the project and Henry County will contribute $25,000 for site development. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support Bassett's recruitment and training activities.
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