Project will cost $80M and add 500 new jobs
By Janet Weyandt, YSN
Ashley Furniture is expanding its operations in Mississippi, an $80 million investment that’s expected to add 500 jobs.
According to the Mississippi Development Authority, the project will expand Ashley’s foam and mattress production in Verona through the purchase of a nearby facility and the construction of a new one.
The plans also call for substantial new investment in operations and equipment in Saltillo, which the parties describe as the country’s largest mattress plant.
“We are thrilled to announce the expansion of our Verona and Saltillo operations in Mississippi,” said Ashley CEO Todd Wanek in a news release. “This strategic investment reinforces our commitment to growth and allows us to better serve our customers. By expanding our capabilities in Mississippi, we are creating more job opportunities and strengthening our presence in the region.”
The Mississippi Development Authority is providing assistance through the Mississippi Flexible Tax Incentive, as well as assistance to upgrade fire safety systems. In addition, Lee County is assisting through a fee-in-lieu agreement.
In a press release, Mississippi Governor Tate Reeves said Ashley’s plans enhance the state’s efforts to grow its business community.
“Supporting existing businesses as they grow and provide new job opportunities for Mississippi workers is a vital component of our state’s economic development vision,” he said. “This fantastic project only further highlights Mississippi’s global reputation as a destination for business and manufacturing.”
The Wisconsin-based business is expanding bedding production during a soft period for the furniture industry, but likely anticipates that expected interest rate cuts will revive the housing market, along with demand for home furnishings.
The project is expected to be completed by the end of 2025.
