Report: State could reduce furniture market funding
HIGH POINT, N.C. — The High Point Market Authority could face a significant reduction in state funding over the next few years under a budget proposal submitted by North Carolina Gov. Pat McCrory, the News & Record is reporting.
McCrory has proposed a slight cut in funding for the upcoming fiscal year, but would slash the amount by more than 50% the following year, according to the report.
Currently, the Market Authority gets about $1.6 million a year from state. The funds are used for marketing and promotion, and to operate the market’s massive shuttle bus system.
The market got about $1.65 million from the state this year for its twice-annual home furnishings show, the country’s largest such event.
It would see that amount cut to $1.6 million starting July 1, 2014, under the governor’s plan.
A year later, McCrory has budgeted about $800,000 for the market.
Read more: News & Record