Toano, VA 23168
Moline, IL 61265
Toano-based Lumber Liquidators could be moving its headquarters to Richmond, according to an article in a Richmond business journal.
The article said Lumber Liquidators is looking at large blocks of office space in Richmond. Brokers and real estate developers who have knowledge of the company’s requirements say the company is looking for 30,000 to 45,000 square feet of office space in Richmond.
Attempts by WYDaily to contact Lumber Liquidators were unsuccessful by the time this article was posted.
The effect of a move on the county’s tax revenue is likely minimal. Administrative offices of manufacturers do not generate local tax revenue due to an exemption in the Virginia Code, resulting in a $286 assessment in 2012.
According to the treasurer’s office, the company paid $81,685.07 in 2012 real estate taxes for the land they occupy in James City County. Most of the space is devoted to a distribution center that’s around 300,000 square feet in Toano, so a move of the administrative offices likely wouldn’t affect revenue.
In 2012, the county collected $48,936 in machinery and tools taxes from the business, according to figures from Commissioner of the Revenue Richard Bradshaw. This revenue is likely to stay with the distribution center if the corporate offices move to Richmond.
Lumber Liquidators started in Massachusetts in 1993. The company moved its headquarters from Boston to Colonial Heights in 1999. In 2004, Lumber Liquidators moved to its current location in Toano. The company now operates more than 200 stores across 46 states and employs more than 1,000 people.
