Strong growth in agricultural prices has enabled the expansion of a farm and home equipment chain store that sells John Deere tractors in an east-central North Carolina town, according to a published report.
As plans develop to build on the 10 stores already in operation, Quality Equipment in Fuquay-Varina will establish new retail outlets, a business opportunity that has emerged thanks to the strong records of selling heavy farm equipment for those already in operation. Quality Equipment's plans include opening a corporate office and retail space, both of which will be near the Fuquay-Varina location.
"We'll have more space and an updated, more modern facility," Greg Morgan, the company's chief executive, told the Cary News.
The company employs approximately 200 people. It merged efforts with John Deere retailers in 2008. Commodities' high prices have offset the negative effects of the recession, and agricultural products in demand include row crop tractors, combines and cotton pickers.
"The equipment that's being sold is kind of reflecting what's happening with the overall agricultural marketplace," Charlie O'Brien, vice-president of agricultural services for the Association of Equipment Manufacturers, told the publication.