Kincaid Furniture seeks tax incentives
Would help consolidate N.C. plants
Heath Combs -- Furniture Today, April 2, 2009
LENOIR, N.C. — Kincaid Furniture, a division of La-Z-Boy, is requesting $500,000 in incentives to maintain its current labor force here and consolidate operations here from La-Z-Boy facilities in North Wilkesboro, N.C.
In Lenoir, the Caldwell County Board of Commissioners will vote on the request on April 6.
However, a story Wednesday in the Wilkesboro newspaper, the Wilkes Journal Patriot, said that Wilkes County is considering a counteroffer to save about 250 jobs at its North Wilkesboro Armory Road Plant.
Caldwell County Manager Bobby White said the agreement will include commitments by La-Z-Boy to retain its existing 200 jobs and create 30 new positions over a five-year period.
White said the commission understood that La-Z-Boy would move its Kincaid Solid Wood, Lea Youth, American Drew and La-Z-Boy Hospitality operations from North Wilkesboro into its 500,000-square-foot Lenoir plant.
White said the incentive money would cover expenses associated with the move, including machinery.
Steve Kincaid, president of Kincaid head of the La-Z-Boy case goods division, did not return calls seeking comment. Wilkes County also were unavailable.
White said it was his understanding that La-Z-Boy would close its North Wilkesboro facilities.
White said the Caldwell County would make its first payment in July of $200,000 and payments would follow in 2010 and 2011.
Caldwell County had been hit hard by the loss of jobs, he said.
"We're doing what we have to do to try to create new jobs. We have to try to retain jobs in the county," White said.
The incentives would come from a county sales tax reinvestment fund. That fund also was tapped last year in efforts by Caldwell County and the City of Lenoir's $2 million incentive package to retain jobs at Broyhill's Pacemaker plant.
In 2006, the City of High Point offered La-Z-Boy $600,000 in incentives to move its North Carolina division headquarters to the city from neighboring Greensboro, N.C.
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Kincaid seeks incentives to consolidate plants
Apr 6, 2009
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