RICHMOND - Governor Bob McDonnell today announced that Lumber Liquidators, the largest specialty retailer of hardwood flooring in North America, will invest more than $60 million in expanding its presence in Virginia.
Among other things, the company is looking to create 250 jobs in Virginia during the next three years through the augmentation of its corporate and manufacturing operations. The company is also consolidating its East Coast distribution operations in Henrico County that will allow for the retention of 500 jobs in Virginia.
"Lumber Liquidators is a shining example of why the Commonwealth consistently ranks as the best state for business in the U.S.," McDonnell said. "Since relocating its headquarters to Virginia in 1999, the company has become one of the fastest growing companies in America, and today's announcement ensures that the Commonwealth will remain home. Lumber Liquidators is a great testament to how all of Virginia's assets, from our natural resources used to manufacture their products to our ports that ship them around the continent and globe, create a formula for success and continued growth."
With more than 315 locations, Lumber Liquidators is North America's largest specialty retailer of hardwood flooring, said Robert Lynch, the company's president and CEO.
"Virginia has been a wonderful home for Lumber Liquidators, and we are so excited about reconfirming our commitment to this great state," Lynch said. "Virginia just has the perfect mix of what is needed for a growth company – a talented workforce, a strategic location and a pro-business climate, all of which has allowed our company to flourish here and will drive continued growth."
Lumber Liquidators is expected to boost its use of Virginia's ports to import and export wood products for domestic and international markets. In addition, the company has undertaken a pilot project to increase the use of Virginia-grown wood in its product mix.
"It is great to see a company which has built its reputation on quality products embracing expanded use of Virginia's forest resources," said Virginia Secretary of Agriculture & Forestry Todd Haymore. "As one of the largest industries in the Commonwealth, forestry provides important jobs and economic benefits to Virginia's residents."
"As a valued customer, the port looks forward to continued partnership with Lumber Liquidators to provide the import and export services necessary for that company to be successful," said Rodney W. Oliver, interim executive director, of the Virginia Port Authority. "Thanks to the governor and the General Assembly, the port was able to assist the Virginia Economic Development Partnership in keeping a top shipper in Virginia through the Port of Virginia Economic and Infrastructure Development Zone Grant and Virginia Port Tax Credit programs."
The Virginia Economic Development Partnership worked with Lumber Liquidators to help secure a $2 million performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies and approved by McDonnell. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company's recruitment and training activities.