N.C. budget plan earmarks $3.1M for market
By Heath E. Combs -- Furniture Today, May 14, 2007
Raleigh, N.C. — A budget proposal in the North Carolina General Assembly falls short of the funding goals sought by organizers of the High Point Market, but is a slight increase from the current year's funding.
The proposal, unveiled last week, included $1.2 million for transportation and $1 million for marketing for the High Point Market Authority, on top of the $875,000 the market's primary organizer and promoter receives in recurring funding.
The total of $3.1 million is a bit higher than the $2.95 million the Market Authority is receiving in the current fiscal year, including $1.75 million for marketing and $1.2 million for transportation. But it's far short of the $5 million the Authority is seeking from the state for the coming year, including $3.5 million for marketing.
The North Carolina House and the state Senate are expected to start working in earnest on the budget this week.
Legislators are shooting to approve the budget by June 30, the end of the state's fiscal year.
Market Authority President Brian Casey said the organization has been working to educate North Carolina legislators on the importance of market and its economic impact, which has been estimated at $1.2 billion annually.
"That number could be significantly higher," Casey said. "There's no way to deny its contribution to the state. It's a small investment for the return it provides."
The transportation monies fund the Market Authority's extensive shuttle system. The organization stepped up its marketing efforts significantly last year to increase participation to the twice-yearly show.
