MEDIA ADVISORY

Mayor: Jennifer P. Dougherty

Contact: Heather Galbraith
Phone: 301-698-8118
Date: September 3, 2003
IMMEDIATE RELEASE

Wolf Furniture Relocates to Golden Mile

The City of Frederick is pleased to announce a new tenant for the former Hechinger's building on the Golden Mile. Wolf Furniture will relocate to the Golden Mile in Winter 2003.
Currently located on East Street, the business was established in 1902 in Altoona, Pa. Today members of the fourth generation of the Wolf family maintain the business, with nine locations in Pennsylvania and Maryland.

The East Street location houses a 50,000 square foot showroom and office space and forty employees. The $2 million plus project on the Golden Mile will provide a new and attractive 60,000 square foot facility, as well as twelve to sixteen new employees.

According to Mayor Dougherty, "Wolf Furniture is yet more proof that if you develop a targeted strategy, like the tax credit district on capitol investment, it will attract interest."
Wolf is the second major business to announce a new location along the Golden Mile since the City and County enacted the Golden Mile Tax Credit program. The tax credit, created in February 2003, provides relief from increases in property taxes that result from building rehabilitation. The goal is to encourage revitalization and capital reinvestment in the Golden Mile, one of Frederick's primary retail corridors.

"The City of Frederick is thrilled with the momentum of capital investment and revitalization along the Golden Mile. The redevelopment of the old Hechinger building into a modern retail center for Wolf Furniture is a key step forward," said Richard Griffin, director of Economic Development for The City of Frederick.