Thursday, June 10, 2010

Chinese Furniture Manufacturer Opens Indiana Headquarters

Chinese furniture maker, Anji Yuankai Furniture Co., Ltd. ("Y.K. Furniture") will establish its United States headquarters in Marion. The company, which manufactures upholstered furniture, plans to invest $24.3 million to establish its first U.S. subsidiary, King's Group U.S.A., LLC, at 1500 South Western Avenue, Marion. The facility will house assembly and distribution operations for King's Group.

The Indiana Economic Development Corporation offered King's Group up to $475,000 in performance-based tax credits. In addition, the IEDC will provide the city of Marion $200,000 from the Industrial Development Grant Fund toward road improvements needed at the site. The city of Marion has negotiated a favorable sale price to King's Group of the currently blighted 12-acre site in return for short term rehabilitation, new construction and job creation in concert with establishment of the "Global Marion Center" by King's Group to recruit more Chinese manufacturers.


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