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Schnadig International Corporation, a subsidiary of Chinese-based Markor International Furniture Co. Ltd., seeks $100,000 in economic incentives to expand its local operations by opening office, warehousing and manufacturing operations at 4200 Tudor Lane.
The company, which offers upholstered items, dining room and bedroom furniture, occasional tables and accent pieces, operates a sales and product development office on Eastchester Drive and a showroom in the International Home Furnishings Center.
The High Point City Council will conduct a public hearing at 5:30 p.m. Monday at City Hall on Schnadig's request.
If council members grant the incentives and Schnadig chooses to relocate its main office from Illinois and warehousing operations from Mississippi to High Point, 70 new jobs would be phased in over the next four years, said Loren Hill, High Point Economic Development president.
New jobs would include senior management, sales, product development, manufacturing, customer service, accounting, credit, operations, warehouse management and operations and information technology, Hill added.
"For the employees hired in year one, the average wage will be approximately $75,000 -- for employees in management and directors," he said. "For years two through four, the average wage is expected to be $30,000 -- for employees in office functions, manufacturing and warehousing."
Incentives would be paid in installments as the company meets job creation and investment performance goals.
It's projected to add about $1 million to the city's tax base through information technology hardware and systems, machinery and equipment, furniture and fixtures and building/showroom leasehold improvements.
Councilman Mike Pugh typically opposes incentives but feels conflicted about Schnagel's request.
"I want the jobs," he said. "There's a tremendous amount of people suffering from unemployment, but I've got to know that those jobs will benefit the people in the city, that they're not going to be transplants but will be created from right here in our work force."
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