CONOVER, N.C. —The State of North Carolina is providing a performance-based grant of $150,000 to luxury furniture manufacturer Sherrill Furniture to support its planned expansion here.
The grant from the One North Carolina Fund aims to provide funding over time for Sherrill’s planned expansion. The company is investing nearly $3 million in a new custom upholstery operation that will add 90 jobs in Conover, N.C.
Adding about 140,000 square feet of production space, this will be the company’s fifth production facility. In addition to upholstery, the company produces wood furniture in nearby Hickory, N.C.
To receive the funding, the company must achieve both job creation and investment targets, according to the North Carolina Department of Commerce.
Officials said that the salaries will vary based on position but that the average wage for the new jobs will exceed the Catawba County average wage of $43,920 per year. The overall payroll for the region will be more than $3.9 million.
“The furniture capital of the world is growing,” said N.C. Gov. Roy Cooper said in a statement. “North Carolina companies like Sherrill Furniture understand the advantages of doing business in our state and we’re grateful for their contributions to our communities and our economy.”
The planned expansion which is in progress, will help the company achieve better lead times for its customers.
“Backlogs within the furniture industry are at an all-time high,” said Thad Monroe, President of Sherrill Furniture Company. “We are 100% focused on substantially reducing lead times for our customers and are willing to invest heavily to more quickly fulfill orders of our USA-made products. We appreciate the support and partnership we have received at the state and local levels to ensure this same goal.”
In addition to meeting the job creation and compensation targets, the Department of Commerce said that all One NC grants require matching participation from local governments.
In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, others that provided support for the grant funding process included the North Carolina General Assembly, the North Carolina Community College System, Catawba Valley Community College, Catawba County, Catawba County Economic Development Corporation, the Western Piedmont Council of Governments and the City of Conover.