STARKVILLE, Miss. (WTVA) -- Leaders of the state manufacturing furniture industry met at MSU for a summit Wednesday to discuss a number of challenges.
Mississippi Governor Phil Bryant delivered the keynote address at the summit.
Industry leaders agree the economy is slowly making a comeback.
"I think the worst is over for the economy and for our industry. I believe we will have stabilization, improvement, and growth for years to come," said CEO of Max Home Furniture Bruno Policicchio
"There is an uptick across the country of selling of houses that has been on the market. Also, new home construction, so that's very positive for our industry," said Hassell Franklin, CEO of Franklin Corporation.
"Housing is already starting to turn around," added Policicchio. "You're seeing the prices of the average home is stabilized and increasing in many areas. And, when you finally have that happen, the next thing that the customers are going to buy is furniture."
Consumer buying attitudes and behavior are key topics as furniture leaders say there are a number of selling points indicating the furniture business will rise to new heights.
"As things improve, people look for more vibrant colors and nicer styling, because it's really a reflection of their personalities," said Policicchio.
Manufacturing executives say one reason domestic production of furniture has been stagnant in recent years is due to the rise of what is called "Offshore Sourcing of Finished Goods."
These goods come from China, Malaysia, and Vietnam.