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Virginia Governor Tim Kaine announced on March 6, 2009 that Vaughan-Bassett Furniture Company, the largest manufacturer of wooden adult bedroom furniture in the U.S., will expand its manufacturing facility in Galax, Virginia. The company will create 100 new jobs, save 500 existing jobs, and invest $2.15 million in the facility. Virginia competed against locations in North Carolina and Asia for the project.
Chris Lloyd with the McGuireWoods Consulting Business Expansion team led the economic incentives negotiations for the company. Vaughan-Bassett Furniture Company will receive a $75,000 grant from the Governor’s Opportunity Fund and $200,000 in funds from the Tobacco Region Opportunity Fund, as well as training assistance through the Virginia Jobs Investment Program.