MONROE (WWJ/AP) – Furniture maker La-Z-Boy Inc. says it’s considering building a new world headquarters in Monroe, its hometown since it was founded in 1927.

The company announced Thursday that if the plan goes forward the office campus would keep the company’s about 500 headquarters employees in the area. The planned investment could reach $50 million if state and local incentives go through.

The company is working on a purchase agreement with the Monroe-based Sisters, Servants of the Immaculate Heart of Mary for about 80 acres of land. The company said it’s also giving consideration to other sites in southeast Michigan and northwest Ohio.

State Sen. Randy Richardville, R-Monroe, said state officials are working to keep La-Z-Boy in Monroe.

“They want to stay in Monroe,” he told The Monroe Evening News. “I am quite confident this will happen.”

The company’s current headquarters could be razed and sold as part of the plan, although a spokesperson said the future of that building has not been determined.

A final decision is expected this year.

TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.

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