The John Richard Collection received tax exemptions Monday for a new warehousing operation in the former Baldwin Piano and Organ plant and also for a recently expanded building.
The company made the requests to the Leflore County Board of Supervisors. It received 10-year ad valorem tax exemptions for both facilities and also exemptions on the inventory stored in the warehouses for sale elsewhere.
The amount of money that would be saved by the exemptions was not available this morning.
Malouf-Carr, L.P., a company owned by John Richard President Alex Malouf and his wife, Pat, bought the Baldwin plant and 75 acres of land in May. Baldwin, an Ohio-based company, announced in January that it would close its Greenwood plant. The operation was later shut down in stages.
John Richard, a home furnishings manufacturer, will use this building as a manufacturing and distribution center. It also will use some of the space for warehousing and lease some of it as warehouse space for Balkamp and Baldwin.
A new line of lamps will be produced at the former Baldwin plant site, Malouf said.
The inventory tax exemptions will apply only to John Richard. If another company that is leasing the property wants a tax exemption, it must apply on its own.
Expansions are necessary as more companies send manufacturing jobs to China and other countries, Malouf told the board.
Small businesses "have some choices to make: They either have to grow or they have to go away," Malouf said.
