July 30, 1998

Lila White
(804) 692-3110

Jill Lawrence
(804) 371-0049
Governor Gilmore Announces Bassett Furniture Expansion in Henry
-- $8 million investment brings 100 new jobs - -

Martinsville - Governor Jim Gilmore today announced that Bassett Furniture Industries, Inc. will expand its Henry County operations. The new 70,000-square-foot facility will bring an $8 million investment to Virginia and create 100 new jobs. A $200,000 Governor's Opportunity Fund was granted to the county to assist with site preparation. Virginia successfully competed with Georgia and North Carolina for the project.

"I am delighted that Bassett Furniture chose to expand in Virginia," said Governor Gilmore. "It is only fitting that a company that traces its roots to the Blue Ridge Mountains should decide on our state to continue its successful manufacturing."

Bassett Furniture, which opened its first plant in Virginia in 1902, now owns 24 facilities in 12 states. The new plant in Henry County will manufacture medium to high-end upholstered and unupholstered dining room furniture. Bassett Furniture selected Virginia because of the exceptional industrial site and the local community support.

"This project represents a new direction for Bassett Furniture Industries as we strive to better meet market demand and improve operating efficiencies," Bassett Chairman and Chief Executive Officer Paul Fulton said. "With a successful track record in Henry County dating back nearly 100 years, it was ideal to undertake the expansion here." "Bassett Furniture's new plant will flourish in Virginia, and the entire Commonwealth will benefit from this decision," said Virginia Secretary of Commerce and Trade Barry E. DuVal. "The residents of Henry County are well qualified for these jobs."

The Virginia Economic Development Partnership, Henry County and the Patrick-Henry Development Council assisted Bassett Furniture Industries, Inc., with its decision to expand. The Virginia Department of Business Assistance will provide workforce training services.

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