With a $5.39 billion impact within a 75-mile radius from downtown, High Point is indeed the Home Furnishings Capital of the World.™
Duke University Study
A 2013 Duke University study (PDF) found that the High Point Market - the world’s largest home furnishings trade show - generates more than $5.39 billion in economic impact to the overall regional economy (the counties within a 75-mile radius from downtown High Point, including counties in Virginia).
“The Market is a valuable economic asset that provides tangible economic benefits throughout the year and throughout the region" said Thomas P. Conley, president and CEO of the High Point Market Authority.
"We will be able to take advantage of the tremendous resources here,
from designers to photography studios, to an experienced pool of talent
from which to recruit." - George Revington, President, Home Meridian
International (moved his corporate headquarters to High Point.)
More Study Findings
The Duke University’s Center on Globalization, Governance and Competitiveness study found that:
The High Point Market supports 37,616 jobs in the region.
Furniture sales activity has the highest economic impact of the activities studied, with a total economic output of $4.23 billion.
The High Point Market has a total fiscal impact of $538 million across all levels of government in the study area.
North Carolina collects $123 million in tax revenue due to the economic activity generated by the High Point Market each year.
Center on Globalization, Governance & Competitiveness
The Center on Globalization, Governance and Competitiveness at Duke University, is built around the use of the Global Value Chain (GVC) methodology. The Center uses GVC analysis to study the effects of globalization on various topics of interest including: