As the chairman of the board for the High Point Market Authority, I wanted to express my gratitude to the Guilford County Board of Commissioners for its recent vote to increase their funding for High Point Market. The additional $50,000 will quickly be put to work to further enhance our recruitment and marketing activities for the twice-yearly Market, aiding in our efforts to ensure that North Carolina’s largest economic event will continue to be a driving force for decades to come.
The recent building boom has been evident to anyone driving around the Market district these past few years, and we’re glad Guilford County is directly benefitting with additional property tax revenue and ongoing job generation. In the past two years alone, seven showroom buildings have been built or expanded, representing an increase of more than $488,000 in annual property tax revenue for the county. As for jobs, the economic impact study we released earlier this year shows that High Point Market directly employs more than 25,000 people each year.
While many are quick to reference our region’s long-standing heritage in furniture and manufacturing, these numbers also support a promising future for this industry locally. Furniture is not only our heritage, but it is our here and now with $6.7 billion in annual economic impact for our state, according to our 2018 report, and it’s our future as well.
The industry support is evident, as buyers continue to attend in large numbers each April and October and exhibitors continue to invest in their showroom spaces. This increased funding shows the local support is here as well, and that encourages me greatly.
As the saying goes, “The rising tide raises all boats.” Continued success for High Point Market additionally means continued success for the city and county and region we’ve called home for 110 years now.
So, thank you, Guilford County commissioners, for celebrating our progress, honoring our heritage, and doing your part to ensure our future success. Your vote of confidence is greatly appreciated.