N.C. Boosts High Point Market Funding

July 23, 2013  by in High Point, Market   

That figure is a $200,000 increase from the previous year. The budget designates the funding as recurring meaning the state legislature intends to fund the authority in future years.

The High Point Market Authority received $1.2 million to help cover transportation expenses and $655,000 in marketing funds. The upcoming October Market (October 19-24) will be the first beneficiary of this expanded funding.

"We greatly appreciate this increase in funding from the State of North Carolina, said Doug Bassett , the authority's chairman of the board and president of Vaughan-Bassett Furniture. "The $1.86 million in funds provided by the State of North Carolina represents a fair compromise between the $2 million we requested and the $1.66 million we received last year. These funds will allow us to continue to provide a first-class experience for the more than 75,000 visitors who come twice each year to the largest, most well-known and most important home furnishings industry trade show."

The High Point Market is North Carolina's has an annual economic event of more than $1 billion, providing tax revenues to the State of $40-45 million. 

"We were thrilled to learn of the State of North Carolina's funding increase and particularly want to thank the Guilford County delegation for shepherding our request through the General Assembly," said Tom Conley , president and CEO of the Market Authority. "Our transportation services during Market weeks provide over 330,000 rides annually, using over 70 vehicles and provide service to five cities, four counties and three airports (GSO, RDU, CLT). Returning our funding to the level we received in 2010-2011 is a move in the right direction."