La-Z-Boy finalizes land purchase for $50 million HQ in Monroe
MONROE, Mich. (AP) - La-Z-Boy Inc. plans to build a $50 million headquarters on 120 acres in Monroe.
The furniture maker and the Sisters, Servants of the Immaculate Heart of Mary finalized a land purchase agreement this week.
The Detroit News reports the Roman Catholic nuns have maintained the land for decades.
La-Z-Boy says it will break ground this spring and move 500 corporate employees into the new building late next year or early 2015.
According to The Monroe Evening News, the headquarters will be situated across from an oak savannah.
La-Z-Boy has been in Monroe since its 1927 founding, but had been courted by Ohio and other Michigan cities to relocate. The city of Monroe, Monroe County and the state offered incentives to help persuade the company to keep its headquarters in Monroe.
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