In High Point the twice-annual furniture market is bringing business as well as back-ups to the Triad.
Earlier this year IMC (International Market Centers) purchased about 1 billion dollars of showroom space in High Point. The company now has 11.5 million square feet of exhibition space in High Point and Las Vegas, offering a bridge between two markets that have competed against each other in recent years. Tom Conley is the new President and CEO of the High Point Market Authority. He says the influence of IMC makes the market stronger.
Tom Conley: "They now represent from a landlord perspective, 60, 63 percent of the total space that is available in High Point. We clearly have a very large, very well financed and very well respected landlord in High Point. We have not seen that in the past."
Conley says many vendors are anxious to see what plans IMC has for the future markets. He says every year the two markets bring a combined, estimated economic impact of 1.1 billion dollars to the region. Despite the traffic delays, the financial impact is something the region has come to depend on.
Conley: "I know from time to time we inconvenience the people who live here, but I think that the quality of life is as good as it is here because of the economic impact market brings twice a year."