IKEA to Close Its Only U.S. Factory

[KY_EnviroGuy]

2. Disappointing news.

I've had high hopes the furniture industry might have a slight revival in NC, VA, W-VA, KY, etc. to perhaps offset some coal mine job losses in our mountains.

With the possible exception of expensive custom items, Asians have essentially killed our furniture industry.

Local news source: https://www.godanriver.com/business/blaming-high-costs-of-materials-in-u-s-danville-s/article_48c641b0-a34d-11e9-bf2a-fba4d90767af.html

"Conditions are not in place to run competitive production in Danville," site manager Bert Eades said. "Despite many efforts to improve, the cost structure for production in Danville is still too high, especially, when it comes to raw materials. This results in pricing significantly higher than for other existing Ikea plants making the same products."

This plant is only 10 years old and Tim Kaine attended its opening ceremony.

KY......