HP market working to restore cut state funds
By Larry Thomas -- Furniture Today, June 18, 2006
High Point — The North Carolina House has approved a state budget that drastically reduces the amount of marketing funds sought by the International Home Furnishings Market Authority.
The budget sets aside $750,000 for marketing and promotion of the High Point market, less than half the $1.75 million contained in the state Senate version of the budget.
The document now goes to a House-Senate conference committee, and High Point city leaders and state legislators from the High Point area have been busy lobbying legislators to get the original $1.75 million in marketing funds included in the final budget.
"We have broad support for what we asked for," said High Point City Manager Strib Boynton. "We feel really good about getting the full amount."
The state government provided $750,000 for marketing and promotion for the fiscal year that ends this June 30, but market organizers say the additional $1 million for the coming year is needed to make High Point more competitive with other furniture industry trade shows, notably the new Las Vegas market.
Both the House and Senate versions include a separate $1.2 million appropriation to operate the market's massive shuttle system.
The additional state money is part of an aggressive long-term funding plan recently adopted by the Market Authority board that would more than double the group's annual budget to about $7.2 million.
The board already has asked the High Point City Council to raise the showroom tax to 15 cents per square foot from its current six cents, which will generate an additional $1 million annually.
The High Point council has agreed to set aside another $1 million in city money for the market.
Plus, the Guilford County Commissioners included a $75,000 grant in the county's budget for the fiscal year beginning July 1. Market organizers had asked Guilford County, which includes High Point and Greensboro, for $250,000, but had to settle for the same amount they got from the county for the current fiscal year.
In spite of that setback, Boynton said he believes the Market Authority will have enough money "to make significant improvements next year."
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N.C. House votes to give Market Authority $750,000
Jun 16, 2006
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