The following is a Counterpoint column:
By Ivan Saul Cutler
North Carolina's myopic legislature is saying, "Drop dead, High Point Furniture Market."
In planning to cut the state's investment – from $1.75 million to $750,000 – to bolster marketing for the mammoth trade show, misguided lawmakers have transformed themselves into unwitting supporters – even pawns – of the aggressive Las Vegas Market bent on seizing North Carolina's crown jewel of global home furnishings trade shows.
With less money for marketing, the legislature is gratuitously giving the Las Vegas Market an unexpected gift of support from North Carolina lawmakers clearly disconnected from reality.
Might as well pin "I support the Las Vegas Market" badges on all legislators predisposed to fund almost everything except the state's premier income-producing events.
Gutting marketing funding for the Market by almost 60 percent constitutes a vote of no-confidence in High Point, the Piedmont and the event itself.
This wrongful course is certain to reverberate around the world and send a message that the High Point Market isn't worth it. By implication, it also means that furniture apparently lacks clout in Raleigh.
Unfortunately, a pervasive myopia about the Market extends beyond Raleigh. Local and regional governments are equally unfocused on and detached from its economic significance despite studies and reports about the event's substantive income-producing stature.
The legislature, as well as Piedmont county commissioners and city council members, must reassess how constituents benefit from Market tax revenue, and invest in this worthy enterprise.
The financial tendrils extend all over our state. If the Market dwindles — and it could without prudent financial subvention by state and local governments — the loss of revenue from property, use and income taxes will be severely felt, not to mention the embarrassment the state will feel if it declines to support a renowned homegrown international event.
The negative effect of a weakened Market will mean more than higher taxes to compensate for the shortfall. Property values in High Point and nearby cities will be affected.
In response, citizens need to reciprocate with an outpouring of anger, even rage over the legislature's likely stupid action. Let lawmakers know they could be punished come November for taking the low road to High Point.
The writer lives in Greensboro, follows the furniture industry and writes a daily weblog, www.insidefurniture.com.
Comments (5)
I am not sure what world deal old Ivan has been living. However, it has not been NC over the last 5-15 years!
The statement, "...the loss of revenue from property, use and income taxes will be severely felt,..." is asinine at best and ignorant at worst! I wonder, has Ivan driven around High Point, Lexington, or Thomasville lately?
And remember that Lexington Home Brands (LHB) and Thomasville Furniture Inds. (TFI), by August 2006, will have changed their collective name to ASIA FURNITURE HOME BRANDS (AFHB)! Neither of these two company's will manufacture their product in the USA by that time. Remember, it is on the backs of these good people which built these company's into the behemoths which they now are. Yet, the ruling powers want the $$$$$$ for themselves and therefore are not willing to continue manufacturing in country!
Follow the money Ivan, you will see where the problems lies. I applaud the State Legislature for not funding the HP Market. My only regret is that they did not pull the money plug totally.
If the companies want to show their product in HP it will happen. If they choose LV, it will happen. Like all of the corporate welfare, the companies follow the GOLDEN FLEEC'EM TRAIL.
The average taxpayer should not have to contribute to corporate welfare. That entity should not exist. There are greater problems that need addressing.
Shalom
Posted by Darryl![[TypeKey Profile Page]](http://blog.news-record.com/staff/letters/nav-commenters.gif)
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June 17, 2006 10:48 AM
Darryl, we don't often agree on issues, but on this one I agree with your post 100%. Nice post.
I don't see why I have to pay taxes for marketing the furniture market. Those who benefit from it are hotel and restaurant operators, most of them owned by chains headquartered in other states or countries. The hotels have long screwed market goers with price gouging, which is another reason many are choosing LV. They brought it upon themselves.
Most of us taxpayers do not benefit in any way from the market. I'm in favor of continuing the market, but it should be privately financed by those who benefit from it.
Posted by Dan![[TypeKey Profile Page]](http://blog.news-record.com/staff/letters/nav-commenters.gif)
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June 17, 2006 1:12 PM
Exactly right.
You don't need to be a weatherman to tell which way the wind is blowing.
The era of the High Point market is on the way out.
Posted by Bubba![[TypeKey Profile Page]](http://blog.news-record.com/staff/letters/nav-commenters.gif)
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June 17, 2006 3:38 PM
Dan, glad we agree. I believe some of our reasons may be a little different, yet we believe it should not be funded by the taxpayer!
Shalom
Posted by Darryl![[TypeKey Profile Page]](http://blog.news-record.com/staff/letters/nav-commenters.gif)
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June 17, 2006 5:08 PM
Add me to the list. I agree wholeheartedly. I'm not sure why the writer thinks that this is a no-confidence vote. It seems if the state is taking money away from the market, they are saying we are confident you can do it on your own.
I agree with Darryl's first comments. Who abandoned who first? The companies abandoned High Point and surrounding areas. Yet they still want the state to support their market?
That's like me leaving my wife and kids with no child support, but still wanting my wife to host a superbowl party with all my friends. "Can you make some more chips and dips, hun?"
Posted by yellowdog![[TypeKey Profile Page]](http://blog.news-record.com/staff/letters/nav-commenters.gif)
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June 20, 2006 11:06 AM