Arcadia-based Ashley Furniture Industries will not be laying off any employees and plans to add jobs, despite seeking $6 million in state tax credits on the condition that it be allowed to retain only half of its work force, a company official told the state’s business lobby.
Ashley Furniture: We will not be laying off any employees in Wisconsin or elsewhere
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An Ashley Furniture official said the company has no plans for lay offs -- even though the Wisconsin Economic Development Corp. board approved a $6 million tax credit for the company conditioned only on the company retaining half of its current employment levels. The money would help relocate part of a creek, which flooded the Ashley property and the nearby village of Arcadia in 2010.
Federal regulators on Monday cited Ashley Furniture Industries for $1.76 million in penalties for alleged safety violations at its Arcadia manufacturing plant that caused more than 1,000 worker injuries in the past 36 months. This photo shows the outside of the plant after flooding 2010.
The WEDC board approved the award for a creek project a year ago with no guarantee jobs would be created.
The board OK'd a $6 million tax credit for a $35 million Ashley expansion that would allow 1,924 layoffs.
According to a WEDC memo, the Arcadia-based furniture maker is planning a $35 million expansion.
