Published on : Thursday, November 28, 2013
Chinese furniture manufacturer and IKEA supplier Liaoyang Ningfeng Woodenware Co. Ltd is likely to invest $2.1 million to establish its first U.S. subsidiary, New Ridge LLC, in Smyth County, VA. This venture is likely create around 125 new jobs in the region. This new subsidy at New Ridge will indulge in the manufacturing of furniture components for the Chinese market along with finished furniture for both European and United States based consumers.
Virginia Governor Bob McDonnell made the announcement Nov. 22. The governor’s office said it had been working on this since April, beating out Kentucky, Tennessee and West Virginia for the project.
“This project is of utmost importance to the Commonwealth and to Smyth County, and successfully competing against three other states is a great testament to the opportunity the company sees in the state and region,” Gov. McDonnell said in a statement. “The addition of New Ridge, LLC and 125 new jobs is tremendous news for an area that is recovering economically, and the company is able to take advantage of an existing facility that is outfitted for furniture manufacturing and allows quick startup to production. We welcome New Ridge, LLC as a great addition to our strong wood products industry cluster in Southwest Virginia.”
Added said Jim Cheng, Virginia Secretary of Commerce and Trade, “In addition to creating new jobs and repurposing a vacant facility, the company will also use Virginia timber to manufacture its furniture components. We are pleased New Ridge can take advantage of the region’s plentiful natural resources as it expands into the U.S. market.”
Tags: Jim Cheng, Liaoyang Ningfeng Woodenware Co. Ltd, New Ridge LLC, Smyth County, Southwest Virginia, V&A, Virginia Governor Bob McDonnell, Virginia Secretary of Commerce and Trade, Virginia timber
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