Subsidy Tracker Individual Entry
Company:
La-Z-Boy, Inc.
Parent Company:
La-Z-Boy
Subsidy Source:
state
Location:
Michigan
City:
Monroe
Address:
501Stewart Road Monroe
Zip:
48162
Project Description:
Michigan Business Development Program: La-Z Boy, Inc., headquartered in Monroe, has been one of the world???s leading residential furniture producers for 85 years. The company manufactures a full line of living room and family room furniture including its world-famous recliners, reclining sofas and loveseats, sleep sofas and stationary sofas and chairs. La-Z Boy plans to construct a new headquarters in the City of Monroe and prepare the current headquarters site for redevelopment. The company plans to invest up to $50.5 million dollars and create 50 new jobs, resulting in a $3 million Michigan Business Development Program incentive for the project. The MSF also approved a MSF Designated Renaissance Zone for the project. Michigan was chosen over a competing site in northwest Ohio. The City of Monroe is supporting the MSF-designated Renaissance Zone for nine years, with a value of approximately $9 million.
Year:
2013
Major Industry of Parent:
housewares and home furnishings
Specific Industry of Parent:
furniture
Subsidy Value:
$237,000
Program Name:
Commercial Personal Property Tax Relief
Awarding Agency:
Michigan Economic Development Corporation
Type of Subsidy:
tax credit/rebate
Number of Jobs or Training Slots:
50
Source of Data:
Notes:
Year is fiscal year. Jobs is sum of new and retained positions.
Source Notes:
If an online information source is not working, check the Tracker inventory page for an updated link.
