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A important element of setting up a new wood working shop is keeping it clean - and not just dust removal or picking up the scrap wood. It's important to keep your work space free from piles and heaps of scrap.
Wall mounted cabinets are a good way to keep your area clean. Pull out bins that fit nicely on the shelves work well and labeling the cabinets and bins is a big help. A freestanding cabinet can be used for the larger tools. A pegboard is always handy to keep things organized in the shop.