Thomas Russell
\nHIGH POINT \u00e2\u20ac\u201d With little discussion, the High Point City Council last week agreed to offer La-Z-Boy up to
\n\t\t
\n$600,000 in economic development incentives to move its North Carolina division headquarters to the city.<\/p>\n
The money is aimed at attracting the company to an existing building at 4310 Regency Drive. The office is now at 4620 Grandover Parkway in neighboring Greensboro.<\/p>\n
If the company accepts the offer, the move would mark a symbolic return of the company to the city limits after a nine-year absence. La-Z-Boy includes some of the original Ladd Furniture companies that were once located in the GE Capital\/First Factors building downtown.<\/p>\n
They moved to Grandover in 1997, said Steve Kincaid, president of the company\u00e2\u20ac\u2122s case goods group. La-Z-Boy placed its divisional headquarters there after acquiring Ladd in 2000.<\/p>\n
The office has about 120 employees who work in the divisional offices of Monroe, Mich.-based La-Z-Boy, and for La-Z-Boy case goods companies American Drew, Hammary, Kincaid, Lea and Pennsylvania House.<\/p>\n
Kincaid said the La-Z-Boy board likely will decide on the move within two weeks.<\/p>\n
At the meeting, he told city council members the move would cost the company about $1.5 million, with about half the expense for setting up information technology gear and other equipment.<\/p>\n
Speaking in support of the move was High Point Market Authority President Brian Casey, who said La-Z-Boy and its sister companies are the largest occupier of showroom space in High Point.<\/p>\n
\u00e2\u20ac\u0153Just the PR value alone of La-Z-Boy coming to High Point and putting a stake in the ground shows this is the home of the home furnishings industry,\u00e2\u20ac\u009d Casey said.<\/p>\n
Kincaid said the company is a supporter of the High Point Market.<\/p>\n
\u00e2\u20ac\u0153We have a vested interest in market being here, and bring in a lot of guests for the hotels and restaurants,\u00e2\u20ac\u009d he said. \u00e2\u20ac\u0153There is a financial impact that goes along with that.\u00e2\u20ac\u009d<\/p>\n
If the board approves the move, the company would look to be in the new space by early next fall, Kincaid said.<\/p>\n","protected":false},"excerpt":{"rendered":"
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