RALEIGH, NC – Gov. Bev Perdue today announced that Stanley Furniture Inc., a manufacturer and marketer of premium wood residential furniture, will expand its presence in High Point by consolidating its showroom and two existing corporate offices to a new facility. The company plans to create 42 jobs and invest $4 million over the next three years in High Point. The project was made possible in part by a $335,000 grant from the One North Carolina Fund.
“Like more and more companies, Stanley Furniture not only will expand in North Carolina, they’re going to put down deep roots,” Gov. Perdue said. “Stanley is putting their complete corporate offices in High Point, and that move is the result of our state’s skilled and motivated workforce and a supportive business climate, especially for this heritage industry.”
Stanley Furniture, based in High Point and Stanleytown, Virginia, is a leading designer, manufacturer and importer of wood furniture in the premium segment of the residential market. The company offers two major product lines – its Stanley brand is the fashion furniture line for the adult market, and its Young America brand is the leading children’s furniture brand. The Young America furniture line is manufactured completely in the western part of the state in Robbinsville, NC where Stanley employs over 350 people.
Salaries will vary by job function, but the total minimum payroll for the new jobs will be more than $2.5 million.
“This is an incredibly formative time for the furniture industry, as progressive companies in the home furnishings industry develop new concepts to better serve customers in what is a recovering but changed marketplace,” said Glenn Prillaman, President and CEO of Stanley Furniture. “The State has helped Stanley adapt, sharing with us the belief that past business models were no longer relevant and that new thinking and investment would position us well to return to a pattern of growth. Many state and local organizations have come together to assist our domestic manufacturing efforts in Graham County where we are working to become the largest and most efficient children’s furniture manufacturer in the country. With this announcement, our company now plans to expand and become a meaningful member of the High Point community. We’re very grateful for the State’s assistance and plan to return its investment many times over.”
The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
“Businesses look for the best deal when they move,” said Sen. Gladys Robinson, of Guilford County. “They need the kind of skilled, educated workforce that comes from years of investing in education and the kind of transportation system and support resources that come from smart investments in infrastructure.”
North Carolina continues to have a top-ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.
Through use of the One NC Fund, more than 60,000 jobs and $11 billion in investment have been created since 2001. Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Guilford County, and City of High Point.
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