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Board backs incentive for KMC Furniture to keep Kinkade operations in Taylorsville
Summary
Alexander County approved a Level 1 real property tax incentive not to exceed $50,700 over five years for KMC Furniture LLC (Project Tartan), which is acquiring Kinkade Upholstery from La‑Z‑Boy and plans to retain about 97 jobs and add a small number of new positions.
The Alexander County Board of Commissioners approved an economic development incentive Jan. 5 for KMC Furniture LLC, the buyer of Kinkade Upholstery’s Taylorsville facility. Economic Development Director Michael Worley said KMC will locate its headquarters at 1320 NC 90, employ approximately 97 people currently at the facility, and expects to add 5–7 jobs following a projected $2.6 million acquisition and capital investment.
Worley recommended a Level 1 real property tax incentive at 60% not to exceed $50,700, to be paid over five annual installments based on appraised value after taxes are paid. Worley said the estimate of $2,600,000 in investment informed the incentive calculation and noted actual tax revenue will depend on assessed values and timing of investments.
Max Dyer, president and CEO of KMC Furniture LLC, thanked the board and described the purchase as a way to keep and strengthen local manufacturing. “We’re very excited about the opportunity,” Dyer said, describing long‑tenured employees and local supplier relationships. After public comment and discussion about the county’s confidentiality practices during negotiations, a commissioner moved and the board approved the incentive by voice vote.
