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Canada Business News and Press Releases
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(I-Canada-News.Com, May 11, 2013 ) Mississauga, Canada -- The board of directors for High Point Market Authority recently awarded $50,000 to a Duke University research team to study the trade show's economic impact. The team is set to measure the impact against both international and domestic furniture shows.
The report will follow up on studies that were conducted by the UNC Greensboro and High Point University that was handled in years prior. The studies are said to measure the general impact near $1.5 billion annual totals.
The market is known to drawn 70,000. The study will be expected to to be produced before the fall of this year, in order to gauge maneuvering capability for the following year.
The study comes during the state funding at the authority being questioned by policy makers and the McCrory administration.
Governor Pat McCrory's budget proposal was released at the tail-end of march, and will show cuts of over $55,000 in market funding from the fiscal 2013-2014 budget. There are further cuts of over $350,000 for the 2014-15 budget as well.
The Governor then reversed his decision in early April, and offered in in-person olive branch to industry leaders who have spoken out against the governors tactics.
Doug Bassett, who stands as authority chairman, stated that the authority expects to see a minimum of $1.65 million in regards to state finding per year, with an additional $345,000 on the initial each year.
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