Most funding continues for High Point Market
August 17, 2010-- Home Accents Today,
HIGH POINT - The High Point Market Authority is expecting to get most of its funding from all sources back for its 2010-11 fiscal year.
North Carolina provides marketing funds, and Market Authority President Brian Casey said the state budget passed this week cuts about 5% from the $848,925 it received last year in marketing funds. Those funds pay for market entertainment and other items.
However, the state will likely give the authority 100% of its past transportation funding, or about $1.2 million, he said.
"We're appreciative of their continued recognition of the value of this asset to the state," Casey said.
The City of High Point will contribute $1 million, which is 100% of its total contributed last year.
Guilford County will kick in $50,000, down from $75,000 last year.
The Market Authority's total budget is about $5 million. The remainder of its budget comes from showroom and occupancy taxes. Its fiscal year begins July 1.
Casey said the organization continues to work to strengthen the market and improve buyer experiences in areas such as housing, rental and ambassador programs, among other items.
"We haven't been doing the same thing market after market. We've been trying to find new and improved ways to do things and we're going to continue to do that," he said.