Riverside Furniture Plans Caswell County, North Carolina, Warehouse & Distribution Hub
Riverside’s additional 300,000-square-feet of distribution and warehouse operations will reduce shipment lead times to retailers in the Eastern United States from receipt of order. In addition to this next phase of growth, Riverside is currently renovating the historic YMCA on Main Street in High Point to create a state-of-the-art showroom and product development center for year-round utilization for the furniture industry.
“Riverside’s investment in North Carolina, including both the new High Point showroom and the Caswell County distribution center, is a combined $15 million, which is a reflection of our growth as a company and the expansion of service to our customer base,” said Fred Henjes, CEO and President of Riverside Furniture Corporation. “Because the distribution center is situated on 50 acres of land, the campus will give us the ability to expand.”
“Riverside Furniture is applying a 21st century touch to one of North Carolina’s earliest manufacturing industries,” said Commerce Secretary Anthony Copeland. “We commend them for the success that has led to this exciting expansion and look forward to supporting their continued growth.”
The North Carolina Department of Commerce led a team of partners in supporting Riverside Furniture’s decision to locate in North Carolina. New positions will include shipping and receiving staff, forklift operators and supervisors. Annual salary for the positions is expected to average $39,260, creating a payroll impact of more than $1.9 million per year for the surrounding community. Caswell County’s overall average annual wage is $36,427.
A performance-based grant of $150,000 from the One North Carolina Fund will help facilitate Riverside Furniture’s expansion. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.
“Growing companies know they can succeed with North Carolina’s skilled workforce, location, and infrastructure to support their distribution operations. Riverside Furniture’s increased presence fits with North Carolina’s reputation as the furniture capital of the world,” said Governor Cooper.
In addition to the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina and Caswell County, other key partners in the project include the North Carolina Community College System and Piedmont Community College.
The Evolution of the Megasite
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
The 2021 Top States for Doing Business Reflect Their Locational Advantages
18th Annual Consultants Survey: Access to Major Markets and Skilled Labor Are Clients’ Primary Concerns
Innovative and Collaborative Design Sets the Stage for Life Science Innovation
2021 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Driving Into An Electric Vehicle Future