Incentives OK'd for Archdale project
Mar. 4—ARCHDALE — Economic developers say they're optimistic that potential financial assistance from local governments will help convince a longtime local upholstered furniture manufacturer to move forward with a proposed expansion.
The Archdale City Council and Randolph County Board of Commissioners recently authorized a $66,500 incentives offer for Lancaster Customworks Inc., which is considering constructing a new building of up to 55,000 square feet and adding at least 20 jobs to accommodate its growth.
Randolph County Economic Development Corp. President Kevin Franklin said company owner Bill Lancaster is also considering a site in Guilford County for the project.
"Mr. Lancaster has not yet made a final decision regarding the expansion location, but we are hopeful that the incentives will encourage future growth in Archdale and Randolph County," Franklin said. "He would like to have a decision finalized by late March or early April."
After several years of double-digit sales growth, the company has outgrown its current facility at 402 Interstate Drive in Archdale, where it's been since 1997.
"We would love to stay in Randolph County," said Lancaster.
The Guilford site under consideration for the expansion is in High Point, Franklin said, and is listed for sale at a significantly lower price than the other top contender, which is a site on Archdale Road in Archdale.
If the latter location is selected, the full investment in the project would be near $3.5 million, including land acquisition, ground-up construction and new machinery and equipment.
To receive the incentives, the company would have to retain its entire full-time workforce of 21 employees and create 20 new full-time jobs over five years with an average annual wage of $46,000.
The money would also be paid out over five years, with up to $21,000 from Archdale and $45,500 from Randolph County if both approve incentives contracts with the company.
pkimbrough@hpenews.com — 336-888-3531
