MonroeTalks.com > Categories > News > Michigan OKs incentives for La-Z-Boy headquarters - $50M


Pages: [1] 2 3 ... 14   Go Down

Author Topic: Michigan OKs incentives for La-Z-Boy headquarters - $50M  (Read 11443 times)

0 Members and 1 Guest are viewing this topic.

The Fuzz

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 22245
  • Fish Lake Michigan!
Michigan OKs incentives for La-Z-Boy headquarters - $50M
« on: December 20, 2012, 07:46:08 PM »

Does anyone know the entire project cost?

Glad to see 50 new jobs and a nice new office right here in Monroe, but I have mixed emotion about distribution (tax dollars)to a company that if I remember correctly is operating at a profit.  Maybe this is Randy's way of making peace with his constituents to make up for being instrumental in pushing the RTW law through.

http://www.freep.com/article/20121220/BUSINESS06/121220013/Michigan-OKs-incentives-for-La-Z-Boy-headquarters

MONROE — The state of Michigan has approved incentives for furniture maker La-Z-Boy Inc. to build a roughly $50 million new world headquarters in Monroe, its hometown since it was founded in 1927.

The Michigan Strategic Fund on Wednesday approved the package, which includes tax breaks, a multi-million dollar grant and other assistance.

Officials say the project could add 50 jobs.

La-Z-Boy earlier this year said the office campus would keep the company's about 500 headquarters employees in the area. At the time, the company had said it also was giving consideration to other sites in southeast Michigan and northwest Ohio.
Logged
Support the local economy as much as possible!

Professor H

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 21468
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #1 on: December 21, 2012, 09:07:56 AM »

This fund is set up just for such reasons, to encourage or keep businesses.   
In this case maintaining the presence of a Corporation World Headquarters was welcome to the region.

That is why the State has lost jobs/business locations in the past - the "tax-breaks" game...
Logged
First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi

livewire

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 13929
  • "SHALL NOT be infringed". Got it?
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #2 on: December 21, 2012, 09:13:07 AM »

What was wrong with their old headquarters?
Logged
The Spirit of the Woods is like an old good friend.
Makes me feel warm and good inside.

Flanders

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 2369
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #3 on: December 21, 2012, 09:14:15 AM »

It would have been cool to somehow have them locate downtown monroe.  But cool either way.  It will be interesting to see what happens to the old building.
Logged

BigRedDog

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 35872
  • The BRD in her 'younger' days... 2007.
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #4 on: December 21, 2012, 09:17:24 AM »

It would have been cool to somehow have them locate downtown monroe.  But cool either way.  It will be interesting to see what happens to the old building.

Well based on the time it's taken to sell the United Furniture building down the street it's going to be a challenge. 

Somebody questioned the property taxes on the UF building...   they'd probably really flip out on these!
Logged
"It's always easy to come up with a solution to someone else's problems".

Friends can email me at bigreddog1 at charter.net

Professor H

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 21468
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #5 on: December 21, 2012, 09:19:37 AM »

What was wrong with their old headquarters?
They remodeled a few years back, but I'm sure it has to do with the traffic patterns and layout of the building that still holds manufacturing areas.

They have a nice museum there, hopefully it will be preserved.
Logged
First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi

Flanders

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 2369
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #6 on: December 21, 2012, 09:27:19 AM »

Well based on the time it's taken to sell the United Furniture building down the street it's going to be a challenge. 

Somebody questioned the property taxes on the UF building...   they'd probably really flip out on these!

Yeah I thought along those same lines.  Pretty steep price for that building too.  But it's amazing to me that that car wash next door hasn't sold.  It seems to be a great price for the land value alone.  Guess telegraph development has hit a standstill.
Logged

BigRedDog

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 35872
  • The BRD in her 'younger' days... 2007.
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #7 on: December 21, 2012, 09:39:12 AM »

Quote
2012, Summer  $42,663.87

Quote
2012, Winter     $42,421.41

From the City website...   Also 5 personal property parcels there but I'm assuming they will all move to the new location.
Logged
"It's always easy to come up with a solution to someone else's problems".

Friends can email me at bigreddog1 at charter.net

BigRedDog

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 35872
  • The BRD in her 'younger' days... 2007.
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #8 on: December 21, 2012, 09:46:11 AM »

They remodeled a few years back, but I'm sure it has to do with the traffic patterns and layout of the building that still holds manufacturing areas.

They have a nice museum there, hopefully it will be preserved.

I agree it should be maintained at that site if at all possible...   I've never been in it so no idea how it fits with the entire parcel...

Quote
QUELL PLACE LOTS 13 THRU 27 & LD COMM AT THE NE COR OF LOT 27 OF QUELL PL; TH S 69D 44M 00S E 60 FT; TH S 20D 20M 00S W 407.88 FT; TH N 69D 47M 00S W 35 FT; TH S 20D 20M 00S W 658.72 FT; TH N 69D 47M 00S W 656.00 FT TO CL OF N TELEGRAPH; TH N 20D 20M 00S E 658.72 FT; TH S 69D 47M 00S E 631.00 FT; TH N 20D 20M 00S E 407.93 TO POB. INCLUDES THAT PT OF VACATED HUBER DR. CONTAINS 15.88 AC

Almost 16 acres there depending on how they would configure around the museum :-\ :-\ :-\
Logged
"It's always easy to come up with a solution to someone else's problems".

Friends can email me at bigreddog1 at charter.net

Monique

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 6620
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #9 on: December 21, 2012, 09:46:59 AM »

What was wrong with their old headquarters?
It is a poorly laid out labyrinth because it is three buildings cobbled together. Some parts of the floor slope steeply, some are obviously hollow underneath, and ventilation was an issue.

Yeah, I can't see them getting rid of the museum. It's truly a piece of Americana.
Logged

The Fuzz

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 22245
  • Fish Lake Michigan!
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #10 on: December 21, 2012, 09:50:58 AM »

I'm afraid it will become an eye sore to be honest.
Logged
Support the local economy as much as possible!

livewire

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 13929
  • "SHALL NOT be infringed". Got it?
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #11 on: December 21, 2012, 09:55:20 AM »

It is a poorly laid out labyrinth because it is three buildings cobbled together. Some parts of the floor slope steeply, some are obviously hollow underneath, and ventilation was an issue.

Yeah, I can't see them getting rid of the museum. It's truly a piece of Americana.

Oh, I see.  I've never been inside there.  Hmmm...

I hope it doesn't just turn into another huge vacant building, though.
Logged
The Spirit of the Woods is like an old good friend.
Makes me feel warm and good inside.

blue2

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 10575
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #12 on: December 21, 2012, 09:57:18 AM »

Probably like most companies,  The building will be abandoned and the citizens will have to pay for the cleanup.
Logged

BigRedDog

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 35872
  • The BRD in her 'younger' days... 2007.
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #13 on: December 21, 2012, 10:00:48 AM »

It is a poorly laid out labyrinth because it is three buildings cobbled together. Some parts of the floor slope steeply, some are obviously hollow underneath, and ventilation was an issue.

Yeah, I can't see them getting rid of the museum. It's truly a piece of Americana.

I'm afraid it will become an eye sore to be honest.

Oh, I see.  I've never been inside there.  Hmmm...

I hope it doesn't just turn into another huge vacant building, though.

Probably like most companies,  The building will be abandoned and the citizens will have to pay for the cleanup.

Why not...  we're paying big time for the tax incentives for them to move!!!

Hopefully they will see that tearing the building down will make the raw parcel more appealing for development. 

Anyone want to start guessing which 'big box' store will want to go in there?
Logged
"It's always easy to come up with a solution to someone else's problems".

Friends can email me at bigreddog1 at charter.net

BigRedDog

  • Hero Talker
  • ******
  • Offline Offline
  • Posts: 35872
  • The BRD in her 'younger' days... 2007.
Re: Michigan OKs incentives for La-Z-Boy headquarters - $50M
« Reply #14 on: December 21, 2012, 10:06:50 AM »

Quote
Taxable Value:

$1,511,740

State Equalized Value:

$2,451,620

Here's the assessment info on the property...   I always like to see how close it ends up selling to the assessed value...
Logged
"It's always easy to come up with a solution to someone else's problems".

Friends can email me at bigreddog1 at charter.net
Pages: [1] 2 3 ... 14   Go Up