Vaughan-Bassett Furniture to expand in Galax
It’s a common occurrence today to see companies closing their doors, cutting jobs in the thousands, and plants closing. We see it everywhere from the nightly news, to newspapers, to online articles, and even driving around town. Business is declining and with America’s economic situation, there is little hope right now for new jobs and job security.
Galax, Virginia, on the other-hand, has received great news this week and has a reason now to be excited for the future of business in their town.
Vaughan-Bassett Furniture has recently announced that they will be expanding and investing more money into their manufacturing facility in Galax.
Vaughan-Bassett Furniture is a 90 year old company that was founded in Virginia. They specialize in making wooden bedroom furniture for adults and also dining room furniture. The Galax facility now employs 574 people.
Vaughan-Bassett will be investing $2.15 million to expand its Galax facility. The investment is going to help save 500 existing positions and will help create 100 new jobs. The investment money will also go to purchasing new equipment.
Along with Vaughan-Bassett’s investment, Governor Tim Kaine approved a $75,000 grant from the Governor’s Opportunity Fund. The Virginia Tobacco Commission also approved a $200,000 grant from the Tobacco Region Opportunity Fund.
Vaughan-Bassett Furniture is trying to expand its business. Although in a recession, now is a great time to expand. Vaughan-Bassett can do this based on their strong financial security and lack of accrued debt. Machinery and labor is less expensive in a recession, so expanding business now can mean huge opportunities in the future.
Southwest Virginia is grateful for the furniture company’s continued interest in the region. “Vaughan-Bassett Furniture has been a cornerstone of the economy of the Twin Counties region for 90 years, and we are very happy with their decision to remain committed to Galax” said C.M. Mitchell, Mayor of Galax.
Vaughan-Bassett is a remarkable company that has stayed true to its roots. While other companies went overseas for cheaper labor, Vaughan-Bassett continued to manufacture in the states. They still continue to produce 95% of their furniture in the United States.
I believe that Vaughan-Bassett Furniture is making a great decision to expand in the Galax location for several reasons. By investing in their business operations, they will have better equipment and more man-power to physically expand- making more furniture more efficiently. Vaughan-Bassett is also making an investment in their community; they are saving 500 jobs and are opening 100 new ones. This tells the community that they are a business who cares about the people of Galax and the surrounding areas; it will also improve the economy of those areas. Consumers will notice the loyalty that Vaughan-Bassett has shown to its local citizens. This could spur un-anticipated brand loyalty to Vaughan-Bassett. Consumers buying furniture won’t only shop there for a great product, but also for what the company stands for. This means retaining past buyers and also swaying new customers away from competitors. Other companies should look at Vaughan-Bassett as an example. Not only making operations better on the business side, but helping and investing in the community is how the future of successful companies is going to be decided.
Michael Weaver
Tags: Expanding, Galax, Local Businesses