While other companies are laying off workers, filing for bankruptcy and becoming the economy’s bitch, one retailer couldn’t be better! IKEA Canada is investing heavily in the country’s market, saying that Canadians are still interested in investing in their homes.
The Swedish furniture giant is expanding in several cities, such as in Winnipeg (read story) and Ottawa. The company has also committed to rebuilding complete showrooms in Etobicoke, Boucherville and Edmonton in Spring 2009.
One of the main reasons IKEA is expanding right now is because of the federal tax credit on home improvement projects in order to stimulate the economy.
The home renovation tax credit will give up to $1,350 in tax relief on home improvement projects like kitchen renovations. Eligible expenses would have to total at least $1,000, but not more than $10,000, and the work would have to be done between January 27, 2009 and February 1, 2010.
“The home renovation tax credit is great news for IKEA customers,” says Kerri Molinaro, President, IKEA Canada, “the average IKEA kitchen costs less than half of the $10,000 cap, and our home delivery and installation services are available immediately. IKEA offers its customers the best value on the market when it comes to quality kitchens with great design.”
via news release