STATE: Furniture manufacturer to invest $5.4 million, create 50 jobs in Caswell County
Riverside Furniture Corporation, a furniture and home furnishings manufacturer, will create 50 new jobs with a $5.4 million investment for a warehouse and distribution center in Caswell County, Gov. Roy Cooper announced Friday.
“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 Cooper.
Founded in 1946, Riverside Furniture Corporation designs, manufactures and distributes residential furnishings to 3,000 furniture retailers across the United States.
Since opening their first plant in Arkansas nearly 75 years ago, the company has experienced exponential growth. Riverside’s additional 300,000 square feet of distribution and warehouse operations in Caswell County 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 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, Chief Executive Officer 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 to 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.
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.
About Riverside Furniture
Fort Smith, Arkansas-based Riverside Furniture is a leading supplier of high-fashion, mid-priced quality bedroom, dining room, home office, home theater and occasional furniture. Founded in 1946, the company distributes its whole home furniture collections and some 1,000 furnishings items to retailers nationwide.
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