A BILL TO BE ENTITLED
AN ACT to appropriate funds for capital improvements and transportation needs of the INTERNATIONAL home furnishings market.
Whereas, the first Southern Home Furniture Market was held in High Point in 1909 with 40 exhibitors in five buildings; and
Whereas, in 1913, the Market was held twice a year for the first time, used 30,000 square feet, had 100 exhibitors and 400 attendees, and used space in eight buildings; and
Whereas, in 1989, the Market's name was changed to the International Home Furnishings Market to reflect the international flavor of the show; and
Whereas, in 2003, with nearly 11 million square feet of showroom space, the Market is equal to 175 football fields under one roof; and
Whereas, in 2003, the Market will attract approximately 80,000 attendees per show, using over 180 buildings and welcoming visitors from more than 100 countries, with international buyers and exhibitors representing approximately 10 percent of the Market's attendance; and
Whereas, North Carolina produces 35 percent of the nation's wholesale furniture shipments with 600 manufacturing plants employing 75,000 people in 75 of the State's 100 counties. Nationwide there are approximately 3,000 plants with over 275,000 employees; and
Whereas, in 2002 the economic impact of the Market on North Carolina's economy just from the attendees' expenditures in the State was 330 million dollars; and
Whereas, with its 80,000 people in attendance, the International Home Furnishings Market would rank as the 10th largest city in North Carolina; Now, therefore,
The General Assembly of North Carolina enacts:
SECTION 1.  There is appropriated from the General Fund to the Department of Commerce the sum of two million five hundred thousand dollars ($2,500,000) for the 2003‑2004 fiscal year and the sum of five hundred thousand dollars ($500,000) for the 2004‑2005 fiscal year for the International Home Furnishings Market.  These funds shall be allocated as follows:
(1)	$2,000,000 for the 2003‑2004 fiscal year to enhance and improve the Market's transportation terminal.
(2)	$500,000 for the 2003‑2004 fiscal year and $500,000 for the 2004‑2005 fiscal year to provide shuttle service to the Market's 80,000 annual visitors.
SECTION 2.  This act becomes effective July 1, 2003.