High Point Market Authority may get funding increase
HIGH POINT, N.C. — The High Point Market Authority appears to not only have dodged the state budget ax, but it may get an increase in funding over the next two years.
The Winston-Salem Journal reported that the N.C. House budget, which was released Friday, provides $1.85 million to the authority, which handles the operations side of the semiannual furniture trade show in High Point. That represents $1.2 million for transportation funding and $655,000 for marketing.
The state Senate budget, which was passed in April, contained $1.63 million for the authority.
Although the authority requested $2 million, the House funding would represent about a $200,000 increase over the $1.65 million the authority currently receives.
The authority faced the potential loss of $411,000 in market funds in the initial budget submitted by Gov. Pat McCrory on March 20. McCrory’s budget did not affect $1 million in annual funding that comes from the N.C. Transportation Department’s budget for fiscal 2013-14, but it would have cut $500,000 in fiscal 2014-15.
McCrory changed his mind about cutting the authority budget on April 2.
Read full story: The Winston-Salem Journal