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Bassett Furniture praised
During State of the Commonwealth speech
Thursday, January 9, 2014
Bassett Furniture Industries was recognized Wednesday by Gov. Bob McDonnell in his State of the Commonwealth speech.
In the part of his speech on job creation and economic development, McDonnell said the General Assembly had provided nearly $120 million in new economic development tools. That resulted in the creation of 76,000 jobs and $13.6 billion in capital investment from projects announced over the last four years that were either assisted by the state or are receiving state incentives, he said.
“One of those projects was Bassett Furniture, a self-described ‘100-Year-Old Virginia Start-up,’ and an integral part of the economy of Southern Virginia,” McDonnell said.
Last month, Bassett received $50,000 from the Governor’s Opportunity Fund, which was matched by a Henry County grant, to help the company expand its manufacturing plant in the Patriot Centre in Henry County. Bassett is making a $1.5 million capital investment and adding 25 jobs in the county.
“They invested in Virginia, and we invested in them,” McDonnell said.
Bassett Vice President of Human Resources Eddie White of Martinsville was in the gallery for the speech, and McDonnell pointed him out to legislators.
“Eddie, thanks for believing in Henry County and Virginia,” McDonnell added.
Additional support for Bassett’s expansion came from Mid-Atlantic Broadband, which provided support for increased broadband connectivity.
According to a news release from the governor’s office, “Bassett is respected for its civic leadership and has a particular interest in community improvements — it is investing in the re-establishment of the Bassett Community Center — and in elevating entrepreneurial activity in its hometown.
“To support these areas of interest, other state partners working with the county and the company include the Virginia Economic Development Partnership, the Virginia Department of Housing and Community Development, the Virginia Tourism Corporation, the (former) Virginia Department of Business Assistance, the Virginia Community College System and the Virginia Workforce Council, and the Virginia Employment Commission,” the release added.