The company is investing over $2 million in their expanded operations.
Motion upholstered furniture manufacturer Homestead Furniture is locating manufacturing operations in New Albany, the Mississippi Development Authority announced on Wednesday.
The project is a $2.016 million investment and will create 117 jobs.
“These 117 new jobs are a great addition to New Albany and Union County. They will help to expand the North Mississippi economy and drive further growth. Mississippi’s economy is thriving and now is the ideal time to invest in and grow a business in our great state,” said Governor Tate Reeves.
Anticipating an increase in demand, Homestead Furniture aims to build a stronger market for motion upholstered furniture with its new Northeast Mississippi operations.
“We couldn’t be happier to be located in Union County. The support we’ve received from the state of Mississippi, Three Rivers Planning and Development District and Union County has been tremendous. We, along with our retail partners, think the time is right for a change in our industry,” said Harry Lipscomb, CEO of Homestead Furniture.
The Mississippi Development Authority is providing assistance for building improvements and Accelerate Mississippi will provide long-term training support.
“MDA is proud to support the Homestead Furniture team as they bring 117 new jobs to Northeast Mississippi,” said MDA Deputy Executive Director Laura Hipp. “Our quality-trained workforce and supportive business climate that Homestead discovered in Mississippi are key ingredients needed to succeed in today’s global marketplace.”
The city of New Albany and Union County will provide qualifying property tax exemptions.
Homestead Furniture plans to fill the 117 new jobs in New Albany by the end of 2023.