HIGH POINT, N.C. — Billions of dollars and growing - that's what a new report says about the High Point Furniture Market. It has more than a six billion dollar impact on our state.
While it may not be open to the public, the twice a year event is the largest economic event in our state. Looking at those growing numbers, High Point leaders see a future here - but aren't overlooking other parts of the city.
"This is our time. It is time for High Point," said council member Monica Peter.
For decades, it's been known as the furniture capital of the world, and now, updated economic data solidifies the city's role for the industry, and for our state.
A new report on the High Point Market shows the twice-yearly event has an economic impact of $6.7 billion dollars - up almost one-and-a-half billion from five years ago.
"It is such a big event. But it is a wholesale event. People don't understand, it's like the city of High Point host the Super Bowl twice a year, that is the number of people that come here," said Mayor Jay Wagner.
Mayor Wagner says there's about $50 million dollars going towards new show room projects.
"At our meeting with the Market Authority the other day, there was a guy who said we do not have to apologize for our downtown anymore," said Wagner.
But they're not neglecting other areas in the city: bringing in the ballpark, a hotel, apartments - the list goes on.
While attempts in the past to bring a boost downtown may have fallen flat,
leaders say, not this time.
"This location here near the train station - at the pit - was kind of a failed attempt in the 60's to sort of re-create and enhance that downtown, and hopefully what we are doing now is going to be much more successful than this was," Wagner said about the current construction.
Of that more than $6 billion impact, the report says that translates to more than 42 thousand jobs, and hundreds of millions in tax revenue.