Homestead Furniture to employ 117 in New Albany

Northeast Mississippi Daily Journal, Tupelo
·2 min read

Dec. 7—NEW ALBANY — A startup motion furniture company is opening its operations with a more than $2 million investment. The company, Homestead Furniture, plans to employ 117 people by the end of 2023.

Homestead is led by CEO Harry "G" Lipscomb, a veteran of the furniture industry. He was most recently executive vice president of sales and marketing and chief innovation of Southern Motion, from where he resigned amicably in October 2020.

"We couldn't be happier to be located in Union County. The support we've received from the state of Mississippi, Three Rivers Planning and Development District and Union County has been tremendous," Lipscomb said in a press release. "We, along with our retail partners, think the time is right for a change in our industry."

Homestead will be located at 101 Industrial Drive in the former VIP Cinema Seating facilities. VIP Luxury Seating, which emerged from its predecessor's bankruptcy in 2020, has its manufacturing plant located across the street.

Homestead Furniture anticipates an increase in demand and aims to build a stronger market for motion upholstered furniture with its new Northeast Mississippi operations.

Lipscomb said the first piece of furniture should roll off the production line in early January.

The Mississippi Development Authority is providing a $275,500 ACE grant for building rehabilitation. In addition, Accelerate Mississippi will provide long-term training support. The city of New Albany and Union County will provide qualifying property tax exemptions.

"Homestead Furniture is a welcome addition to our manufacturing base. We are grateful for Homestead's investment in our community and our people. Homestead's leadership has a rich and storied history in upholstered furniture manufacturing, and we look forward to helping them thrive and grow in New Albany," said New Albany Mayor Tim Kent.

The Homestead news is a welcome one, arriving two weeks after the sudden shutdown of United Furniture Industries/Lane Furniture that put some 2,700 workers — including more than 1,000 in Northeast Mississippi — out of work. Several lawsuits have been filed against United and its owner in the wake of the unexpected closure on Nov. 22.