Motion upholstered furniture manufacturer Homestead Furniture has announced plans to locate manufacturing operations in New Albany through a $2.016 million investment.
According to Homestead Furniture, the expansion will create 117 jobs by the end of 2023 as the company anticipates an increase in demand.
Homestead has also stated that it 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,” said Harry Lipscomb, CEO of Homestead Furniture. “We, along with our retail partners, think the time is right for a change in our industry.”
The Mississippi Development Authority will provide assistance for building improvements, while the city of New Albany and Union County allow for qualifying property tax exemptions. Accelerate Mississippi has also released that it will grant long-term training support to the company through the expansion.
“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,” Governor Tate Reeves said. “Mississippi’s economy is thriving and now is the ideal time to invest in and grow a business in our great state.”