2003 ANNUAL REPORT High Point Economic Development Corporation GROWING and THRIVING in HIGH POINT 2003 ANNUAL REPORT: GROWING ANDTHRIVING in HIGH POINT

Where Technology & Tradition Thrive

2003 ANNUAL REPORT High Point Economic Development Corporation GROWING AND THRIVING IN HIGH POINT 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

HIGH POINT LAUDED Dear Fellow High Pointers: FOR BUSINESS / GOVERNMENT PARTNERSHIP Making our city “unique and successful” Existing business and industry in any community accounts for at least 70% of all new job creation and capital investment. High Point’s economic development program “is recognized within Oftentimes, much of an economic development agency’s focus and the the North Carolina and national economic development community as attention of elected officials – and, as a result, public recognition – go to new one of the best in the state. It is focused, proactive and is successfully companies recruited to town. Existing local companies can be overlooked. carrying out a long range mission to diversify the industrial base while Not in High Point. retaining and growing existing industries.” Yes, we welcome new companies to town and work hard to recruit them. In addition, High Point’s elected leaders, the City Manager, the High Point That is an assessment from The Sanford Holshouser Business Economic Development Corp., and other City of High Point departments are Development Group, which was contracted by ElectriCities to do an equally committed to working closely with existing companies in their day-to- economic development marketing plan for High Point. 1 day operations and, when they are ready, with expansions. Such public / private collaboration is the only way to succeed. When interviewing members of the business, educational, and non- We celebrated that success in 2003. The theme of the annual meeting of profit community for the study, the most often-repeated evaluation was the High Point Economic Development Corporation in November was that “what makes High Point unique and successful was the coopera- “Growing and Thriving in High Point.” The heads of 56 existing local com- tion between city government and the business community.” panies – that have announced or completed the expansion of facilities and / or the creation of new jobs in High Point in 2002 and 2003 – were invited as Below are other excerpts from the study. special guests. • Leaders with vision and “can-do / make it happen” attitudes The High Point City Council has invested in that success, showing it val- were recognized as a major strength in High Point. That attitude ues existing companies. Six of the 10 incentive packages awarded since 1993 is evident in the professionalism and entrepreneurial approach to have been to local companies that were growing. economic development by the City government and High Point The media has taken notice of how High Point takes care of its own: Economic Development Corporation staff. • UNC-TV, statewide public television, chose High Point in 2003 • The High Point EDC staff was cited for its professionalism and for a documentary on our public / private partnership which, the for being proactive. reporter believes, makes us an economic development showcase • Many cities say economic development is a priority but High for the state. Point gets the job done, improving its industrial and commercial • “Business expansions boost city's economy” – an editorial in the base in the face of the national economic downturn. High Point Enterprise of July 22, 2003 – celebrated the growth of local companies. It pointed out that, despite problems with the To review the executive summary of the High Point study, go national economy, High Point “provides a good business climate online to: www.high-point.net/edc. for a broad diversity of companies.” With the HPEDC and the City of High Point working well in partner- 1 Sanford Holshouser is an economic development consulting firm based in Raleigh. ship with the private sector, local companies have found a productive business ElectriCities assists municipalities such as High Point with administrative, climate in which to expand. Join us in celebrating existing companies’ positive technical, legal and legislative services for their city electric utilities. news as you review “Growing and Thriving in High Point: the 2003 HPEDC Annual Report.”

Where Technology & Tradition Thrive Coy Williard Loren Hill Chairman of the Board President

TABLE OF CONTENTS Major projects of 2003...... 3 High Point’s largest employers, taxpayers ...... 3 Business & industry developments in 2003...... 4 - 14 Internationally-owned companies...... 15 In the news ...... 16 National rankings for High Point ...... 18 HPEDC Board of Directors ...... 19 High Point Economic Development Corporation High Point’s International Home Furnishings Market ...... 20 (left to right): Executive Assistant Billie Marsh, Vice President Steve Smotherman, Chairman Coy Williard, City Manager Strib Boynton, Information Services Specialist Beverly Tedder and President Loren Hill

2 High Point Economic Development Corporation

LARGEST TAXPAYERS The twelve largest taxpayers in High Point pay 10.5% of all city property taxes.

RANKING COMPANY NAME NATURE OF BUSINESS TOTAL VALUATION 1 International Home Furnishings Center showroom $142,544,307 2 Merchandise Mart Properties, Inc. showroom 86,641,300 (combining Market Square, LLC, and Market Square II, LLC) 3 Liberty Property Trust real estate 74,400,386 4 Tyco Electronics electronics manufacturer 56,779,417 5 North State Communications communications 52,812,171 6 High Point Development Ltd. Partnership real estate 47,171,905 (parts of Oak Hollow Mall) 7 Showplace, LLC showroom 43,479,150 8 Polo Ralph Lauren Corp distribution / customer service 41,593,311 9 Thomas Built Buses, Inc. bus manufacturer 35,624,934 10 Banner Pharmacaps pharmaceutical manufacturer 31,057,196 11 Mannington Mills flooring manufacturer / distribution 28,302,464 12 Bank of America (Trace Hopkins) finance / customer service 26,495,018

Source: City of High Point Financial Services Department

LARGEST EMPLOYERS These employers are the twenty largest in High Point in 2003. Collectively, they employ nearly 17,000 area residents. MAJOR DEVELOPMENTS IN 2003

The most notable developments in High Point in RANKING EMPLOYER NAME NATURE OF BUSINESS TOTAL EMPLOYEES 2003 are listed below and can be located on the 1 Bank of America finance / customer service 1900 accompanying map. 2 High Point Regional Health System healthcare 1735 3 Guilford County Schools public education 1698 A. Bank of America (Page 7) (employees assigned to High Point schools, offices) B. Banner Pharmacaps (Page 4) 4 Thomas Built Buses / Freightliner bus manufacturer 1596 C. Courtyard by Marriott (Page 13) 5 City of High Point local government 1311 D. FedEx (Page 16) 6 Tyco Electronics Inc. electronics manufacturer 995 E. Guilford Technical Community College (Page 12) 7 Polo Ralph Lauren distribution / customer service 920 F. Hanamint Corporation (Page 9) 8 RMH customer service 826 G. High Point Regional Health System (Page 11 ) 9 Aetna US Healthcare insurance / customer service 814 H. Kao Specialties Americas, LLC (Page 4) 10 Cornerstone Healthcare healthcare 604 I. Liberty Property Trust – Paychex building (Page 7) 11 Marsh Furniture Company cabinet manufacturer 584 J. Mannington Mills (Page 6) 12 Banner Pharmacaps, Inc. pharmaceutical manufacturer 566 K. Nabisco (Page 6) 13 Leggett & Platt, Inc. bedding manufacturer 480 L. Open Software Solutions, Inc. (Page 4) 14 Sears Product Services Marketing Center customer service 478 M. Pavilion on Hamilton (Page 9) 15 Valspar Corporation coatings manufacturer 458 N. Pharmagraphics (Page 5) 16 Guilford County local government 451 O. Polo Ralph Lauren (Page 6) (employees in High Point offices) P. Providence Place (Page 13) 17 North State Communications communications 432 Q. River Landing at Sandy Ridge (Page 13) 18 Mannington Mills flooring manufacturer / distribution 400 R. Southern Film Extruders (Page 5) 19 MGM Transport Corporation truck transportation 385 S. Thomas Built Buses (Page 4) 20 Brayton International, Inc. / Steelcase office furniture manufacturer 321

3 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

HIGH TECH / BIOTECH / RESEARCH & DEVELOPMENT

In 2003, seven high tech companies had Open Software Solutions relocates to High Point Sigcom adding jobs economic development announcements. www.ossiusa.com www.sigcom.net Open Software Solutions, Inc., moved to Sigcom, Inc., at 4230 Beechwood Dr., pro- Banner Pharmacaps adds 100 jobs High Point from Greensboro in the fall of 2003. vides state-of-the-art, technology-based solutions www.banpharm.com Open Software Solutions bought the 50,000- in communication and security. As sales grew By March, Banner Pharmacaps completed square foot Lifestyles Building, 4000 Lifestyles due to increased federal government contracts in the addition of 100 jobs at its state-of-the-art Ct. (now OSSI Ct.), from Liberty Property Trust. the aftermath of Sept. 11, 2001, the company manufacturing facility at 4131 Premier Drive. The company develops public safety software hired additional electrical and mechanical engi- The Dutch company moved its nutritional divi- for local governments, including 911 centers, neers on its staff in 2003. sion to the city, consolidating all its U.S. manu- police departments, sheriffs’ offices, fire depart- facturing operations in High Point. ments, and emergency management services agen- TransTech Pharma adding jobs The company is a global leader in the devel- cies. OSSI, which Deloitte & Touche named in www.ttpharma.com opment and manufacture of prescription, over- 2003 to its "Technology Fast 50" list for North TransTech Pharma, located at 4170 the-counter pharmaceuticals and nutritional sup- Carolina, moved 75 employees into High Point Mendenhall Oaks Parkway, is adding five addi- plements sold in softgels and gelcaps. and expects to add 40-70 positions within the tional employees to its 75-person workforce. In 2003, the company also leased additional next five years. Those new jobs will be scientists who will earn office space at 4100 Mendenhall Oaks Parkway between $60,000 and $250,000. and occupied an 18,600-square foot warehouse space at Federal Ridge Business Park. Thomas Built Buses opens state-of-the-art facility Ciba invests in High Point www.thomasbus.com www.cibasc.com Ciba Specialty Chemicals has invested more Thomas Built Buses President John In 2003, the company also leased a 61,000- than $3.5 million in its High Point location at O’Leary is proud that his company’s new tech- square foot building nearby at 2827 Earlham Pl. 4050 Premier Dr. in the last three years. In nologically-advanced manufacturing plant “is to serve as a logistics staging area for the new plant. 2003, the Swiss company completed renovating the state-of-the-art commercial vehicle manufac- With 1596 full-time employees, Thomas and building new laboratories, constructing “tex- turing facility in the world.” Built Buses is High Point’s largest manufacturing tile service” workspace, and reconfiguring offices. The High Point business community and employer and 9th largest taxpayer. elected leadership shared that pride with him on Company officials chose High Point over a November 20 when O’Leary was a featured competing out-of-state site. In 2002, the High speaker at the Annual Meeting of the High Point City Council voted unanimously to invest Point Economic Development Corp. The meet- $4,143,800 over five years in the project. In addi- ing’s theme was tion, the City provided “Growing and $356,500 in electrical Thriving in High infrastructure to serve Point.” the new facility. Thomas Built High Point’s Buses is a shining unprecedented incen- example of that tive package was joined theme. The company with investments from Kao Specialties Americas opened its state-of- the State of North Kao doubling capacity the-art, $39.7 million, Carolina and three www.ksallc.com 275,000-square foot other local govern- Kao Specialties Americas is expanding on facility in November. ments to total more its 57-acre site at 243 Woodbine St. In December, It boasts a 3/4-mile- than $14 million. the company announced that it will build a $13 long assembly line and Founded in High John O’Leary million facility that will double its capacity. an automatic conveyor Point in 1916, the Among the products made at the facility is toner system. company is the leading school bus manufacturer binder -- resins used to manufacture toner for pho- The school bus maker is creating 178 new in North America with a 37 percent share of tocopiers, printers, and fax machines. jobs with this expansion at 713 W. Fairfield Rd. the market. Once a family-owned business, The company was founded in 1945 as High The facility will make the next-generation Thomas Built Buses is now a subsidiary of Point Chemical Corp. It was acquired in 1987 school bus, the “Saf-T-Liner® C2” (please see Freightliner LLC, which is a DaimlerChrysler and is now a wholly-owned subsidiary of Kao article on Page 17). Company, based in Stuttgart, Germany. Corporation of Japan.

4 High Point Economic Development Corporation

MANUFACTURING

In 2003, thirteen manufacturing companies Package Crafters opens its doors Also moving into the 51,000-square foot had economic development announcements. Wayne and Gary Brewer opened Package building was its sister company, Saint-Gobain For a story on manufacturer Thomas Built Crafters, Inc., in November. The father and son Abrasives, which was already a High Point busi- Buses, please see the “high tech” section team started the new corrugated container manu- ness. That division will be making and distribut- on Page 4 facturing firm in the 73,500 - square foot building sandpaper products. ing at 1040 E. Springfield Road. Carolina Container doubles in size Package Crafters began with 10 workers and Southern Film Extruders expanding www.carolinacontainer.com plans to employ nearly 30 persons by the end of www.southernfilm.com Carolina Container Co., headquartered at 909 its first year of operation. Southern Film Extruders, one of the leading Prospect St., doubled its size when it purchased a producers of high quality polyethylene film for 72,000-square foot warehouse at 2072 the packaging industry, announced in June 2003 Brentwood St. that it is investing $6 million in a 45,000 - square Founded in High Point in 1928, Carolina foot expansion. Seventy-five jobs will be retained Container makes corrugated cartons that compa- in High Point, and 25 new jobs will be added to nies use for packaging their products. its workforce at its 2327 English Road location. At the urging of the High Point Economic Computer Designs opens Development Corporation and the High Point www.computer-designs.com City Council, the N.C. Department of Computer Designs began operations in early Pharmagraphics Transportation participated in the expansion by 2003 at 638 Alton Pl., employing 10 people ini- Pharmagraphics celebrates new building helping to fund a portion of a new rail spur to tially. The company produces specialized thermal www.pharmagraphics.com service the expansion. plastic packaging. Computer Designs was a client Pharmagraphics held its grand opening in of Bill Shore, who is an economic developer for July 2003 for its new facility at 1072 Boulder the Piedmont Triad office of the N.C. Dept. of Road. An international printing and packaging Commerce. company for the pharmaceutical and health care industry, Pharmagraphics moved its international headquarters and Piedmont Triad manufacturing operations to High Point from two locations in Greensboro. The company moved 175 employees into its new High Point facility. The company has about 600 employees worldwide at two U.S. plants and Team Emergent at locations in Puerto Rico, Poland, Mexico, and Team Emergent moves to High Point Canada. www.teamemergent.com Bill Davis Racing Team Emergent, a manufacturer of injection Bill Davis Racing expands Pro Fab plans expansion molded plastic components, is leasing a Liberty www.billdavisracing.com Pro Fab, a High Point company that makes Property Trust building at 4160 Mendenhall In May 2003, Bill Davis Racing received a pipe for the chemical and electrical industries, Oaks Parkway. The company is relocating its 42 permit to build a 6,800-square foot expansion for announced plans to construct two new buildings. employees from Greensboro and purchasing addi- NASCAR “motor room research” purposes. Located at 1088 Boulder Rd., the two structures tional high-dollar equipment. The public is invited to see cars being built and will total 12,453 square feet. One building will get a behind-the-scenes glimpse of what it takes house a fabrication shop, and the other building TennTex Plastics grows to compete in NASCAR at the 300 Old will serve as the company’s office. TennTex Plastics, a plastic molding producer, Thomasville Rd. facility. Pro Fab will continue to operate at its current constructed a $500,000, 17,000-square foot location at 238 Woodbine St. addition at its facility located at 8011 National FFNC grows Service Road in Piedmont Corporate Park. FFNC, Inc. added 19,904 square feet at its Saint-Gobain BayForm opens TennTex hired 10 additional employees as a result 1300 Prospect St. location. The company reno- www.bayform.com of this expansion. vated a former furniture plant in 1999. With the Saint-Gobain BayForm, which makes expansion, the company now has 350,000 square window screens and window components, opened K & S Tools expanding feet of space. The company produces flexible a facility in High Point in 2003. Liberty K & S Tools, located at 614 Hendrix St., will polyurethane. Property Trust leased 4501 Green Point Dr., be constructing a 10,000 - square foot facility at Suite 104, to the French-owned company in 1253 Elon Pl. February.

5 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

DISTRIBUTION / WAREHOUSING / SHIPPING / LOGISTICS

In 2003, ten distribution / warehousing moves to 759 Chimney Rock Rd. from its companies had economic development Tarrant Rd. location. announcements. The proposed FedEx Mid- Atlantic hub (please see Page 16) will support this Ted Lansing Corp. opens industry and help it grow even larger than its www.tedlansing.com already considerable presence. Ted Lansing Corp., which provides vinyl building products, built a 25,000-square foot office / warehouse facility at 8016 Thorndike Mannington Mills Road. The ribbon-cutting ceremony was in June Mannington triples space 2003. The company moved from a nearby site in www.mannington.com Guilford County. Mannington Mills, at 210 N. Pendleton St., dedicated its new distribution center in May Multi-Distributing opens facility 2003. The company added 107,000 square feet www.stainsafe.com Bennett Uniform Manufacturing to the existing distribution center in two phases, Multi-Distributing, Inc., announced in Bennett Uniform moves back which has tripled the building’s square footage. June 2003 that it is opening a facility at 4524 www.bennettuniform.com Sixteen new full-time employees were hired, Green Point Drive, Suite 103. The Italian-based With the purchase of the 35,300-square foot and Mannington expects more employment oppor- company is affiliated with Multimaster North building at 4377 Federal Dr., Bennett Uniform tunities to become available over the next year. America, which was already in High Point. The returned to High Point. The company moved 30 parent company markets leather care and repair employees from Kernersville, where it had been for products. The new Multi-Distributing location a few years after leaving High Point. The company will be used for light packaging purposes and will makes uniforms overseas and distributes them hire 10 employees initially, which could grow to domestically through its High Point location. up to 30 jobs over the next few months.

Stiles Machinery expands Hanamint Corp. doubling in size www.stilesmachinery.com www.hanamint.com Stiles Machinery announced plans in July 2003 Nabisco (please see article on Page 9) to add 21,000 square feet to its sales and distribu- Nabisco growing tion center at 729 Gallimore Dairy Road. The www.nabiscoworld.com company designs and supplies machines used to Nabisco will move into a new 80,000-square make furniture. One position was added. foot building in early 2004. Cookies and crackers are shipped from this distribution facility. The company will double its size when it Polo Ralph Lauren adds 150 jobs www.polo.com Streuli Sales the Annual Meeting of the High Point Streuli Sales needed more room Economic Development Corp. in November. www.wooddoors.com The meeting’s theme was “Growing and Streuli Sales, a manufacturer of wooden Thriving in High Point.” doors, opened a 20,900-square foot, $800,000 She proved her company exemplifies that addition to its warehouse at its 8221 Tyner Rd. theme when she announced that Polo Ralph plant. Lauren added 150 new jobs in 2003. Those jobs were in addition to the 50 jobs added one Industrial Packaging Supply adds 10 jobs year earlier. www.ipack.com Mary Lawton The company now has 920 employees at Industrial Packaging Supply hired 10 employ- The Polo Ralph Lauren facility in High 4100 Beechwood Drive, making Polo Ralph ees as it opened a new 50,000-square foot distri- Point – which serves as the only distribution Lauren High Point’s 7th largest employer. bution center at 1203 and 1205 Baker Rd. The center for the company in the United States – Also in 2003, the company completed the company supplies industrial fastening systems. continues to grow. renovation of one-third of its 1.3 million Mary Lawton, Vice President for Supply square feet of distribution and office space and Chain Management, was a featured speaker at expanded its loading docks.

6 High Point Economic Development Corporation

CUSTOMER SERVICE

In 2003, seven customer service companies Point in early 2003. The company now has 826 had economic development announcements. employees, making it High Point’s eighth largest As a result, more than 800 jobs will be employer. The company manages a large call added in High Point. center at 4336 Federal Drive.

Nylstar opens U.S. corporate office www.nylstar.com Nylstar, Inc., moved from Greensboro and Paychex leased 4,014 square feet at 4100 Mendenhall Oaks Parkway for its corporate offices. The Paychex moves to High Point Italian-based company makes yarn products. www.paychex.com Paychex, a leading national provider of pay- roll, human resources and benefits services for Liberty Property Trust/ Lakeside One small and midsize businesses, will relocate from Greensboro to the new Streamside II building in Liberty Property Trust moves to High Point High Point. www.libertyproperty.com The company broke ground on the facility on Liberty Property Trust moved into High Sept. 26. Liberty Property Trust is constructing the Point in 2003 from nearby in Guilford County, new building for the company on Meeting Way. bringing 15 jobs into the city. The company Sixty-five employees will move into the building located in the Lakeside One building it owns at when it is completed in early Spring 2004. Paychex 4100 Mendenhall Oaks Parkway. McAllister & Hanks officials estimate that approximately a dozen posi- The company, which is the developer of tions will be added over the next two years. Mendenhall at Piedmont Centre office park, is McAllister & Hanks builds new facility High Point’s third largest taxpayer. The law firm of McAllister & Hanks built a McNeil Communications moving new facility at 201 Neal Place. McNeil Communications Group will be RMH completes hiring 300 moving into a new 5,000-square foot office www.rmh.com building at 202 Neal Place. The public relations RMH, a provider of outsourced customer firm will double its space at this new location. relationship management services, finished adding 300 new jobs to its existing workforce in High

Bank of America increases workforce by 380 jobs www.bankofamerica.com Bank of America announced in 2003 the four branch banks and at this facility. addition of 380 new jobs and the investment On July 1, company officials and High of $2.5 million in various infrastructure Point dignitaries attended the ceremony improvements at its facility at 4161 Piedmont announcing 350 new jobs to support the Parkway. With the addition of these new bank’s consumer real estate loan servicing. employees, the company becomes High Thirty additional jobs were announced on Point’s largest employer with 1900 jobs at October 16. Those positions will be added

Gary Gore in the bank’s consumer real estate division. Gary Gore, Senior Vice President for Commercial Banking, was a featured speaker at the Annual Meeting of the High Point Economic Development Corp. in November. His update on the company melded well with that meeting’s theme -- “Growing and Thriving in High Point.”

7 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

INTERNATIONAL HOME FURNISHINGS MARKET / FURNITURE / FURNITURE-RELATED

In 2003, twenty-two furniture-related Joe Erba announced in 2003 that the company Purnell Furniture Services hires 20 companies had economic development expects to double its workforce in the next five years. www.purnellusa.com announcements. Please see the back cover Purnell Furniture Services opened a 20,000- for a feature story on the importance of the Drexel Heritage announces retail store square foot warehouse at 3415 Central Ave. The International Home Furnishings Market. www.drexelheritage.com company hired 20 employees. Drexel Heritage, a furniture manufacturer which has its corporate headquarters in High Point, announced in 2003 that it will open a 19,400-square foot retail store off Riverdale Rd. in the summer of 2004.

Elite Furniture refurbishes 100-year-old building www.elite-furniture.com Elite Furniture, a promotional furniture manufacturer, added 50 jobs to its 145-person work- Furnitureland South Abu Oriental Rugs force in early 2003. The company moved to 928 Furnitureland South surpasses Abu Oriental Rugs opens Millis Street, where it upfitted and refurbished the 1 million square feet Abu Oriental Rugs opened a new retail show- 100-year-old former Myrtle Desk Plant #3 www.furniturelandsouth.com room at 5626 Riverdale Drive, just outside the building. Elite has 151,000 square feet at its new Furnitureland South, just outside the High High Point city limits. location, which is more than twice what it had on Point city limits at 5635 Riverdale Dr., opened a South Road. new 60,000-square foot addition in 2003 that American Woodcrafters adds jobs pushes the company’s retail selling space to more www.copihuechile.cl than one million square feet. American Woodcrafters and its parent, Rockford Furniture, added 15 jobs in 2003. International Arcade highlights antiques That growth came after the companies expanded The International Arcade opened in 2003 to into a 90,000-square foot building at 1060 E. showcase antiques from around the world. Springfield Rd. in 2002. According to International Affairs of High Point The companies – which have corporate offices, partner Dian Brigman, the 35,000-square foot warehouse space, and showrooms in High Point – building at 329 N. Main St. will be open all year make kids’ bedroom furniture from wood harvested and will feature high-end antiques from a host of from its 55,000-acre pine tree farm in Chile. “Forbidden City Museum” countries. “Forbidden City Museum” opens in Lifestyle showroom Lifestyle Enterprises and its “The Forbidden City Museum” opened a new showroom at 320 E. Commerce Ave. in time for the fall edition of the International Home Furnishings Market. According to permits filed with the City of High Point, the company spent $620,000 HomElegance Brayton International to transform the exterior of the building to HomElegance corporate HQ moves to High Point Brayton International holds grand opening look like a pagoda and make other changes to www.homelegance.com www.brayton.com the former Alexvale building. HomElegance, an importer of Pacific Rim Brayton International, a designer and manu- furniture, announced in August 2003 that its cor- facturer of high-end furniture for corporate Floyd building showroom porate headquarters would be moved from clients, held its grand opening in early 2003. Lt. Joe Floyd is building a new structure in the California to High Point. The Chinese consor- Governor Beverly Perdue was the featured guest. 300-block of S. Main St. that will house both his tium broke ground for its showroom complex at A division of Steelcase, Inc., the company showed family’s law offices and showrooms. The four- 212 Jacobs Place, which will eventually have more off its impressive new 250,000-square foot facili- story building will have 40,000 square feet of space. than 168,000 square feet of showroom space ty at 225 Swathmore Ave. More than $11 million costing $13-15 million. Condos will be built on was spent on the project. Company President the upper floors.

8 High Point Economic Development Corporation

INTERNATIONAL HOME FURNISHINGS MARKET / FURNITURE / FURNITURE-RELATED

In 2002, the company leased the former National Home Furnishings Association moves Hatteras Yachts building on E. Kivett Drive www.nhfa.org for its distribution center. The National Home Furnishings Association, In 2003, HomElegance moved its distribu- a trade association for home furnishings retailers, tion center to the former Hyundai Furniture moved into its own facility at 3910 Tinsley Dr. building off Baker Road. Once the company from leased space in Market Square. Thirty-two buys that building, it intends to double the employees work at its High Point headquarters. building’s size to 200,000 square feet. Pavilion on Hamilton

Sangiorgio expands showroom Samet building “Pavilion on Hamilton” www.furniturencus/sangiorgio.htm www.sametcorp.com Sangiorgio purchased and rehabbed 510 Samet Corporation announced in September W. Green Dr. for an 18,000-square foot show- 2003 that it will build Pavilion on Hamilton, a room. The Italian furniture manufacturer also showroom complex on the former Beeson invested $200,000 in the renovation. The Hardware and Lumber property. The four-acre company had previously leased 6,000 square Magnussen Home Furnishings site is bounded by N. Hamilton St., E. Broad feet nearby. Ave., N. Centennial St., and E. Kivett Dr. Magnussen expands U.S. corporate headquarters Samet will build a 100,000 - square foot www.magnussen.com showroom in the first phase of the project, to be Magnussen Home Furnishings added ready for the October 2004 edition of the 3,600 square feet of space in 2003, increasing its International Home Furnishings Market. An U.S. corporate offices to 13,500 square feet. The additional 125,000 square feet is slated for the offices are on Mendenhall Oaks Parkway. second phase. The Canadian-based company also opened a Darrell Ferguson, of Ferguson Copeland, a new 26,000-square foot showroom, doubling its Hanamint Corporation high-end furniture importer, is partnering on this previous space for the International Home project. Hanamint Corp. doubling in size Furnishings Market. Hanamint Corp. is doubling the size of its The Wright Place opens corporate office / showroom / distribution cen- Lee Industries building showroom The Wright Place, the $2.5 million restora- ter at 8010 Thorndike Rd. The company, which www.leeindustries.com tion of the former Wright’s Clothing Store build- imports aluminum-cast patio furniture from Lee Industries, an upholstered furniture ing, opened two of its floors for showroom space. China, announced plans in July to build a manufacturer, announced plans to construct a Hughes Furniture Industries leased the first floor 40,000-square foot addition. new showroom at the corner of S. Lindsay St. in time for the April 2003 edition of the and W. High Ave. International Home Furnishings Market. Brown ItalArt buys downtown building Jordan International leased 10,000 square feet of www.italartdesign.com the second floor for the October Market. ItalArt, a furniture manufacturing company, A 28-room inn is being built on the third bought 115 S. Hamilton St. in 2003. The com- through sixth pany opened showroom space on the 9,000- floors and will square foot second floor. open in 2004, according to Renner Sayerlack opens office / lab Natale developer Coy www.sayerlack.com Williard. Renner Sayerlack, a Brazilian manufacturer Natale renovates and expands The N. of coatings for wood furniture, opened a facility Natale Furniture Industries, an Italian Main St. struc- at 1200-C Corporation Dr. in March. The com- furniture maker of casegoods and leather seating, ture was High pany has both a color laboratory and design cen- hired Kirkland, Inc., to work on its facility on Point’s first tall ter at this location. English Rd. at N. Elm St. Natale refurbished building when 15,000 square feet of showroom space, renovated it opened in Stiles Machinery expands the exterior, and added a freight elevator during 1904. (please see article on Page 6) this Phase II work.

The Wright Place

9 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

BANKING / FINANCIAL / INSURANCE

In 2003, six financial institutions had American Express Financial moves economic development announcements. As a www.financeAmericanExpress.com result, nearly 500 new jobs will be created. American Express Financial Advisors moved into 11,045 square feet of space at 4100 Mendenhall Oaks Parkway, Suite 250. The company expanded as it relocated to this facility from Greensboro. Twenty-five employees moved to the High Point location. Plans are to hire an additional 40 Southern Community Bank & Trust people over the next three years. Southern Community relocates branch High Point Bank & Trust Western & Southern moves district office www.smallenoughtocare.com www.westernsouthern.com Southern Community Bank & Trust relocated its High Point Bank builds branch Western & Southern Financial Group relocat- only Guilford County branch to 2541 Eastchester Dr. www.highpointbank.com ed its district office from Thomasville to 1301 High Point Bank & Trust is building its sixth Eastchester Drive, Suite 203, in October. The Bank of North Carolina coming full-service branch at 3015 East River Way. The office markets life insurance, critical illness insur- www.bankofnc.com 4,500-square foot building will be in the Shoppes ance, annuities, and other financial products and Bank of North Carolina, based in at Deep River development, at the corner of services. The company relocated 18 employees to Thomasville, purchased a 1.5-acre site at the cor- Wendover Ave. and Penny Rd. High Point and will be immediately adding six ner of N. Elm and Lindsay streets to build its more staffers. first branch in High Point. The branch is sched- Bank of America adds 380 jobs uled to open during the summer of 2004. (see Page 7)

BUSINESS PARKS & RETAIL CENTERS

In 2003, one office / industrial park, four Old Plank Road center underway Springtree opens Phase II office centers, and three retail centers had Carr Properties is developing a 6.8-acre retail and The second phase of Springtree Office Park, economic development announcements. office development on six lots located on the north- located at 2115–2125 Eastchester Dr., was com- west corner of N. Main St. and Old Plank Rd. pleted in 2003. This phase includes nine town- Hutton Lane Center completed One lot at 3421 N. Main St. will be developed house office spaces totaling 32,500 square feet. The 15,000-square foot third phase of with a convenience store and gas station, while a Hutton Lane Professional Center, at 1015 second lot at 6415 Old Plank Rd. will house the Hutton Lane, was completed in 2003 by new offices of Davis-Martin-Powell and Associates. Kirkland, Inc. The office condominium complex now has a total of 43,000 square feet. Mendenhall Village to be built www.libertyproperty.com Premier Center underway Liberty Property Trust announced in 2003 Carolina Investment Properties has begun that it will construct Mendenhall Village. The construction of Premier Center, a $60 million 12,600-square foot retail center will be located at Wendover Crossing 90-acre business / light industrial park. The park the intersection of Eastchester Dr. and is located on the west side of Eastchester Dr. at Mendenhall Oaks Parkway, which is in the Wendover Crossing offices built its intersection with Mendenhall at Piedmont Centre office park. A 12,000-square foot office building was Premier Dr., across from completed at 3910 Tinsley Dr. (please see National Piedmont Centre. Old Main At Skeet Club opens Phase II Home Furnishings Association story on Page 9). Sites in the high-end The 11,000-square foot second phase of Old development are anticipat- Main At Skeet Club Retail Center – at 3700- Oak Hollow Village addition completed ed to range between five 3710 N. Main St. -- was completed in 2003. A $1.5 million, 11,500-square foot addi- and 15 acres. The development now has 23,000 square feet tion to Oak Hollow Village at 1231 Buildings are expected and can accommodate up to 13 businesses. Eastchester Dr. was completed with Talbots to range between 40,000 (see page 14 ) as the main tenant. and 100,000 square feet.

Premier Center

10 High Point Economic Development Corporation

PHOTOGRAPHY / DIGITAL / GRAPHICS FIRMS

In 2003, four commercial photography studios Forty West increases space Viewpoint Studios grows had economic development announcements. www.40westphoto.com www.vpstudios.com Forty West, a high-end photo house, expand- Viewpoint Studios, the nation’s largest day- ed its lease in June 2003 – upping its space to light photography studio for the home furnish- 29,945 square feet at 4524 Green Point Drive. ings industry, continues to grow. In 2003, the The company specializes in set building for movie company announced it will expand into an addi- and video production as well as in-house or on- tional 16,000 square feet of warehouse space and location photo shoots. add five professional positions. With that growth, Viewpoint has 100 Innovations Imaging relocating employees in High Point and will occupy Innovations Imaging is moving from Feld Ave. 158,120 square feet in three buildings: 4328 and Albion Associates to a larger facility. The new location is 4523 Green 4300 Federal Dr. and 4500 Green Point Dr. Albion Associates expands Point Dr., a building with 85,000 square feet. www.albionassociates.net Albion Associates, a photography and graph- Photography industry getting national attention ics studio serving the home furnishings industry, High Point’s well-known furniture industry led to the growth of another industry – commercial expanded in 2003. The company, located at 622 photography to advertise those furnishings. High Point commercial photography studios, now Southwest Street, has recently added retail clients branching out to other industries as well, employ hundreds of area residents and are well known to its customer base. throughout the United States. The company added 10 jobs, increasing its Among the local studios are: workforce to 60 employees. Albion also purchased a 30,000-square foot building at 503 Old 1. Albion Associates Inc 8. Kreber Studios Thomasville Road, diagonally across from its 2. Alderman Studios 9. SCP Studios facilities. With the addition of the new building, 3. Atlantic Photographics, Inc. 10. Tribuzio Hilliard Studio, Inc. the company now has 91,000 square feet of stu- 4. Boumarr Studios, Inc. 11. Viewpoint Studios dio, warehouse, and office space. 5. Forty West 12. Visual Concepts 6. Innovations Imaging, Inc. 13. VPS -- Vintage Photo Studios 7. Koch Studio, Inc. 14. Widner Photo, Inc.

HEALTHCARE

In 2003, five healthcare organizations had Cornerstone Healthcare adds 14 jobs economic development announcements. www.cornerstonehealth.com Cornerstone Healthcare increased its number of employees in 2003 from 590 to 604. Cornerstone is an integrated multi-specialty group of physicians.

Cranbrook Primary Care opens www.cranbrookprimarycare.com High Point Regional Health System Cranbrook Primary Care, a wife-and-husband doctor team, opened a family practice at 1231 High Point Regional opens cancer / rehab center Eastchester Medical Center Eastchester Dr. in Oak Hollow Village. www.highpointregional.com In June, High Point Regional Health System Eastchester Medical Center built Advanced Home Care adds 63 jobs opened the new $15.5 million cancer center / Lindbrook Development built the $2.5 mil- www.advhomecare.org acute rehabilitation / physicians’ office project at lion Eastchester Medical Center, at the corner of Advanced Home Care, a non-profit organiza- 601 N. Elm St. Hickswood and Eastchester Dr. The medical tion specializing in providing a full range of home Construction also began on a 67,000-square office building has 20,000 square feet of space. health care services, increased its full-time person- foot, $12.25 million medical office building at nel from 250 to 313 in 2003. Westwood & Lindsay streets.

11 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

EDUCATIONAL / INSTITUTIONAL

In 2003, seventeen educational facilities, The curriculum offers core tracks of study in Love Cathedral rehabs old school churches, and other public and private sound recording, concert sound and lighting, per- Love Cathedral purchased the 40,309-square institutional groups had economic formance, and artist venue management. foot former Brentwood Elementary School on development announcements. Brentwood St. Christ the King opens center Christ the King Catholic Church opened an Macedonia center dedicated 8,000-square foot multicultural center on its E. The Macedonia Family Resource Center Kivett Drive campus. opened a 23,000-square foot building on S. Centennial St. in mid-2003. The facility was High Point Christian Academy expands built by Wesley Memorial United Methodist www.hpcacougars.org Church and other agencies. The City of High High Point Christian Academy, established by Point contributed $2.3 million for land acquisi- Green Street Baptist Church in 1996, added a tion and infrastructure improvements. 45,568-square foot, $4.6 million building in 2003 The center houses a 10-classroom childcare Depot at 800 Phillips Ave. center, a computer classroom for Guilford Depot dedicated for train passengers Technical Community College, and a satellite On November 21, High Point’s train station branch of the High Point Public Library. was rededicated for passenger service after a $6.8 million restoration. Peace Christian Church builds Mayor Arnold Koonce and Jim Morgan, for academy chair of the High Point Historic Preservation www.peace4hp.org Society, welcomed two special guests during the Peace Christian Church added a 10,204- ceremony: N.C. Secretary of Transportation square foot, $850,000 building on its campus for Lyndo Tippett and Doug Galyon, who chairs the its school, Peace Christian Academy. N.C. Board of Transportation. Galyon represents Norton Hall, High Point University High Point on the board. High Point University building Norton Hall Restoration of the 98-year-old depot -- fund- www.highpoint.edu ed by the City of High Point, the High Point High Point University began construction on Historic Preservation Society, the State of North Norton Hall in early 2003. The 27,000-square Carolina, and the federal government – returns foot, $3.5 million building will be the home for the 3,300-square foot train station to its original HPU’s International School of Home Furnishings. appearance and function. Officials also began raising money in 2003 to build a $3 million sports center. Former William Penn High School High Point Friends School grows www.hpfs.org Penn – Griffin renovations underway High Point Friends Meeting completed an www.guilford.k12.nc.us 18,000-square foot, $2 million project for its pri- Guilford County Public Schools continued vate school to accommodate 108 additional stu- the renovation of the former William Penn High GTCC’s School of Entertainment Technology dents. The school will eventually have nearly 300 School in 2003. The building is becoming part students in preschool through fifth grade. of the newly-renamed Penn-Griffin Middle GTCC’s “Larry Gatlin School” locating in School for the Arts. The E. Washington Dr. High Point Hunter Hills starts construction school will host students in grades 6-8. www.gtcc.edu www.hunterhills.com Late in 2003, Guilford Technical Community Hunter Hills Baptist Church in Greensboro Triangle Lake Elementary opens College completed its $9.25 million building that began building a new 28-acre campus on www.guilford.k12.nc.us will house the Larry Gatlin School of Wendover Ave. The new complex will be called Guilford County Public Schools opened Entertainment Technology. The 66,000-square Life Community Church of Hunter Hills. Triangle Lake Montessori Elementary School in foot building and 500-seat outdoor amphitheater August. The school is located at 2401 Triangle were built on the High Point campus of GTCC, Laurel Oak Christian Church grows Lake Rd. 901 S. Main St. Laurel Oak Christian Church applied for a The program, which had been on the permit from the City of High Point to construct Jamestown campus, is the only one of its kind in a $1.42 million, 12,600-square foot building at North Carolina and one of only six in the nation. 1001 Old Plank Rd..

12 High Point Economic Development Corporation

EDUCATIONAL / INSTITUTIONAL

homes, and retail stores are also part of the project. Samet Corp. completed construction of an 89,046- square foot retirement living facility in August.

River Landing at Sandy Ridge opens www.riverlandingsr.org River Landing at Sandy Ridge, an expansion of the Presbyterian Home of High Point, opened a Williams Memorial CME Church Providence Place new 153-acre retirement community at 1575 John Providence Place is new convention site Knox Drive. The facility opened in early 2003 with Williams CME building new church www.firstwesleyan.org/ministry/providenceplace.html 125 employees. The $60 million project includes www.netministries.org/see/churches/ch07864 Providence Place, the $50 million mixed-use residences, assisted living units, a skilled nursing cen- In 2003, Williams Memorial CME Church development of First Wesleyan Church on the site ter, and a nine-hole golf course. began construction on a new facility at 3400 of the former Westchester Mall, opened in early Triangle Lake Rd. The 38,000-square foot church 2003. The project at 1701 Westchester Drive Wesleyan Christian Academy opens gym will cost $5 million and is located on 10 acres. includes a 1,600-seat auditorium used as both a Wesleyan Christian Academy opened its new The church has outgrown its Leonard Ave. site. rental facility for conventions and the sanctuary for 1000-seat gymnasium on Eastchester Dr. in the church. December. The $2.52 million, 30,245-square A skilled nursing facility, apartments, cluster foot facility was constructed by Samet Corp.

HOSPITALITY In 2003, one hotel and eleven eateries had Kirkland, Inc., the business travelers’ hotel is Cold Stone Creamery opens economic development announcements. operated by Poteat Hospitality Associates. www.coldstonecreamery.com Cold Stone Creamery opened a retail ice cream Azteca relocates and expands Blue Water Grille opens store in May at the Shoppes at Deep River, just off Azteca, a Mexican restaurant, relocated and Blue Water Grille opened at 126 E. State Ave. Eastchester Dr. expanded from a S. Main St. location to a 5,700- The restaurant specializes in Cajun-influenced square foot facility in Wendover Landing in north seafood dishes. High Point. Carter Brothers growing Bear Rock Café opening in Furnitureland South Carter Brothers BBQ & Ribs experienced such www.bearrockfoods.com a high volume of sales at its 3802 Samet Drive Bear Rock Café is opening its first restaurant in location in Wendover Landing that it had to build a commercial business with its Furnitureland South an auxiliary parking lot nearby in 2003. Fire and Sticks location (please see article on Page 8). The eatery will serve not only the retail showroom’s 800 employees Carvel Ice Cream begins serving Fire and Sticks to open but also the more than 30,000 Furnitureland www.carvel.com Fire and Sticks, an 8,000-square foot Japanese South shoppers per year. Carvel Ice Cream opened a franchise in the restaurant, is scheduled to open in 2004. The Mainchester shopping center at 2200 N. Main St. restaurant will be located at 3917 Sedgefield St., near Piedmont Centre. Ceramic Grill planned Ceramic Grill, an Indian / Pakistani / Mi Pueblo opens new location Mediterranean restaurant, will open in 2004 in Mi Pueblo Mexican restaurant, already on Oak Hollow Square at the intersection of Northpoint Ave. in High Point, opened another Eastchester Dr. and Skeet Club Rd. location in 2003 on Tinsley Dr. in north High Point.

Courtyard by Marriott Hotel Chop House coming to High Point Souper Crisp opens Courtyard by Marriott Hotel opens The Chop House Grille will open in 2004 at www.soupercrisp.com www.marriott.com/courtyard the corner of Eastchester Dr. and Meeting Way. Souper Crisp, a restaurant featuring soups, sal- A 107-room Courtyard by Marriott Hotel Liberty Property Trust sold the land to the company. ads, and sandwiches, opened at 4045 Premier Dr. opened in October at 1000 Mall Loop Rd., on The Chop House has existing locations in Winston- in Piedmont Centre. the grounds of Oak Hollow Mall. Built by Salem, Greensboro, Raleigh, and Wilmington.

13 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

RETAIL / SERVICE

In 2003, nineteen retail or service companies ProCare begins operations had economic development announcements. www.ProCareAuto.com ProCare Automotive opened a car service center Abu Oriental Rugs opens in the Shoppes at Deep River off Penny Road. www.abuorientalrugs.com (please see article on Page 8) Harris Teeter expands www.harristeeter.com Carolina Kia to open Harris Teeter completed a 10,000-square foot www.CarolinaKia.com expansion to its grocery store at 1589 Skeet Club Rd. PetSmart Carolina Kia of High Point announced plans PetSmart opens on Eastchester to open a new dealership at 1800 N. Main St. www.petsmart.com PetSmart opened in a 22,000-square foot space at 265 Eastchester Dr. The company is a leading retail supplier for pets.

Sign Mine comes to High Point Hobby Lobby www.signmineinc.com Sign Mine, maker of signs for corporate, Hobby Lobby comes to High Point vehicle, and public use, opened at 1231 www.hobbylobby.com Eastchester Dr. Coldwell Banker Triad Realtors Hobby Lobby opened its first store in North Carolina in March at 1116 Eastchester Dr. in a Transco expanding for Bentley, Rolls Coldwell Banker moves into new building 49,000-square foot space. Among the items the www.transcoinc.net www.coldwellbanker.com retailer sells are arts & crafts supplies, baskets, silk Transco, Inc. announced plans for a new Coldwell Banker Triad Realtors moved into its flowers, needlework, wearable art, picture framing, 7,500-square foot showroom and service center new facility at 2212 Eastchester Dr. The two- and party supplies. for its Bentley and Rolls Royce dealership. The story, 26,000-square foot building was construct- facility is located at 1730 N. Main St. and is the ed by Kirkland, Inc., and has office space to lease Ilderton expands only dealership of its kind within a 300-mile to other companies. www.Ilderton.com radius. Ilderton Dodge-Chrysler-Jeep, Inc., will Consolidated Theatres proposed expand its previously-owned automotive sales divi- www.consolidatedth.com sion to 712 S. Main St. – diagonally across from Consolidated Theatres of Charlotte is propos- its current location. ing to construct a new 14-screen, 2,656-seat theatre complex on a 26-acre parcel. The site is adjacent to Jos. A. Bank starts in High Point the Shoppes at Deep River on Wendover Ave. www.josbank.com Construction could begin in February 2004. National men’s clothier Jos. A. Bank opened its doors in Oak Hollow Mall in 2003. Family Video planned Talbots www.familyvideo.com Kid Appeal Learning Center grows Family Video, a national movie rental chain, Kid Appeal Learning Center expanded by Talbots welcomed to High Point bought the corner of N. Main St. and Westchester building a new 8,400-square foot facility at 1010 www.talbots.com Dr. to build a 7,000-square foot building. The Greensboro Road. The modern child care facility Talbots, a leading specialty retailer of new store will hire 12-20 employees when it opens currently can accommodate as many as 149 chil- women's classic apparel, opened its first High in 2004. dren, ranging in age from 6 weeks to 12 years. Kid Point location in a 4,500-square foot space at Appeal had rented space two blocks away. 1225 Eastchester Dr. Furnitureland South surpasses 1 million square feet Paper and Party Place YourWay Computing opens www.furniturelandsouth.com Paper and Party Place opened its doors at 800 www.yourwayc.com (please see article on Page 8) N. Main St. The company features party sup- YourWay Computing established its business plies, balloons, and printing needs. at 1240 N. Main St. The company specializes in Samet constructs ABC store custom-built computer systems. Samet Corp. completed the construction of a new retail ABC store on Parris Ave.

14 High Point Economic Development Corporation

INTERNATIONALLY-OWNED COMPANIES IN HIGH POINT More than 60 companies in High Point are Chile Japan internationally owned. This list includes American Woodcrafters (see article on Page 8) High Point Textile Alliance companies with a permanent presence in High Kao Specialties Americas, LLC Point; it does not include companies that only show China (see article on Page 4) at the International Home Furnishings Market. Fine Furniture Design & Marketing LLC Syntec, Inc. HomElegance (see article on Page 8) YKK (USA) Inc. Argentina Universal Furniture International, Inc. Anthem Leather (see article below) Netherlands Arpel Leather France Akzo Nobel Coatings Saint-Gobain Abrasives Banner Pharmacaps (see article on Page 4) Austria Saint-Gobain BayForm (see article on Page 5) Schmidt America Ltd. Spain Germany Hurtado USA Belgium David R. Webb Co. Food Lion Jowat Corporation Sweden Merz Pharmaceuticals, LLC Elmo Leather of America, Inc. Bolivia MWG Biotech, Inc. Casa Blanca International, Inc. Senator Penn USA Switzerland TFL USA / Canada, Inc. Ciba Specialty Chemicals Corp. Brazil Thomas Built Buses (see articles on Pages 4 & 17) (see article on Page 4) Duratex North America Herzog-Elmiger Inc. Giovanni Turnao Designs Italy Renner Sayerlack USA, Inc. (see article on Page 9) Calia Maxim USA Tu r k e y Woodline Millwork, Inc. Calligaris Strictly Furniture Chateau D'Ax USA Ltd Canada Delmac Machinery Group United Kingdom Carson Dellosa Publishing Ferrari America Adams Furniture Décor-Rest Furniture Freud USA, Inc. Arthur Brett & Sons General Woods & Veneers Group Giemme Furniture Bevan Funnell Ltd. Magnussen Home (see article on Page 9) Multi-Distributing, Inc. (see article on Page 6) Reprodux, Inc. Morbern USA Inc. Multimaster North America Vitafoam, Inc. Ornamental Products Natale Furniture Industries (see article on Page 9) Palliser Furniture LTD Natuzzi Americas Inc. Peregrine Industries Nylstar, Inc. (see article on Page 7) RBC Centura Sangiorgio Furniture Industries (see article on Page 9) Sklar-Peppler Tonon USA

HIGH POINT FIRMS AMONG “FAST 50” The Business Journal recognized eight High # 5 Anthem Leather # 38 Pharmagraphics Point companies that made its "Fast 50 for www.anthemleather.com www.pharmagraphics.com 2003" list. The “Fast 50” are the fastest- Anthem Leather, an Argentine upholstery (please see article on Page 5) growing privately-held companies in the leather supplier to the furniture industry, is located # 39 CaribEx Worldwide Piedmont Triad. at 512 Townsend Ave. www.caribex.com # 15 New Breed Corp. CaribEx Worldwide is a logistics facilitator # 4 Spectrum Laboratory Network www.newbreed.com offering global services oriented to Latin America www.spectrumlab.org and the Caribbean. Spectrum, located at 4380 Federal Dr., is a # 28 iSurity, Inc. full-service regional medical laboratory. The com- www.isurity.com # 48 Graphic Printing Services pany is a joint venture formed by High Point iSurity, Inc., located at 1208 Eastchester Dr., www.graphicprinting.com Regional Health System, Greensboro’s Moses specializes in helping clients with Workers' Graphic Printing Services is a commercial Cone Health System, and Forsyth Hospital’s Compensation insurance and claim management. printing company at 4301 Waterleaf Ct. Novant Health. # 35 Viewpoint Studios (please see article on Page 11)

15 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

IN THE NEWS

Airport gets permit for FedEx hub • FedEx will hire approximately 750 workers in The Research Triangle-based center is a private, www.flyfrompti.com Phase 1, expanding to a total of 1,500 in Phase 2. non-profit corporation established in 1981 by the www.fedex.com. • Nearly 20,000 other new jobs could be created state legislature. Its mission is to provide long-term in a 14-county area over a 16-year period. economic benefit to North Carolina through the • Total new wages and salaries are projected at support of biotechnology research, development, $5.5 billion, with a total value-added impact and commercialization. of $9.3 billion on the Piedmont Triad’s economy. • $703 million in new state tax revenues and Solatech wins $236 million in new local tax revenues will be Triad Entrepreneurial Initiative’s award generated over the 16-year period. www.solatech.com High Point-based Solatech won an award in HPEDC features N.C. Biotech Center 2003 for its impressive business plan. The presti- Piedmont Triad International Airport received www.ncbiotech.org/ouractivities/statewide/triad/triad.cfm gious award and $50,000 grant came from the its final regulatory permit for the FedEx Mid- Biotech – what the N.C. Biotechnology Center Triad Entrepreneurial Initiative. Atlantic Hub project. On December 9, the U.S. calls “a collection of technologies that use living cells The start-up company, founded in December Army Corps of Engineers issued a “404 water and / or biological molecules to solve problems and 2000, is a leading provider of software for the quality” permit. make useful products” -- is an ever-growing compo- manufacturing and retail segments of the win- Work can now begin on the company’s fifth nent of economic development. dow-covering industry. Solatech is located at national hub, which is slated to open no later than As a result of biotech’s importance in High 1314 Long St. mid-2009. Point, in the Piedmont Triad region, and in the state, FedEx will construct a $300 million, 1 mil- the center was featured at two board meetings of the lion-square foot air cargo package-sorting facility. High Point Economic Development Corp. in 2003. Concurrently, PTIA will be building a third run- • In June, W. Steven Burke, Senior Vice President way to accommodate this major economic devel- of Corporate Affairs and External Relations, opment project. discussed the center’s work and the potential of The project was announced in April 1998. biotech in the region. Since that time, regulatory review was performed • In October, Gwyn Riddick, the just-named by 21 federal, state, and local government agencies. director of the new Piedmont Triad office of A consultant study contained in the project’s the center, discussed how the region can benefit Environmental Impact Statement assesses the from his office – the first satellite location of the FedEx hub. center in North Carolina.

HPEDC Annual Report wins UNC-TV FEATURES HIGH POINT international & regional awards The High Point Economic Development tries and the diversification of industries over the The High Point Economic Development Corp. played host to a reporter, a producer, and past few years,” Lindstrom noted, “you can tell Corporation earned three awards in 2003 for its three videographers from UNC-TV in 2003. there's been a concerted effort to change, while 2002 Annual Report: "North Carolina’s The statewide public television network chose still working to support traditional industries International City." High Point to feature in a documentary on the determined to modernize and make it in the new • The International Economic Development diversification of North Carolina’s economy. economy." Council honored the HPEDC annual report High Pointers appearing in the High Point at its 2003 Annual Conference in Cincinnati. feature included Mayor Arnold Koonce; former • The Southern Economic Development mayor Judy Mendenhall of the International Council presented two awards -- in the Home Furnishings Market Authority; past annual report category and the international High Point caught the attention of the HPEDC chairman Jim Morgan of Morgan, literature category. reporter for its success in diversifying, for the posi- Green, Rosenblutt & Gill attorneys; Jeff Miller of tive news from Bank of America and Thomas Built High Point Regional Health System; Dr. Adnan Northern High Point businesses Buses, and from the 56 companies that expanded Mjalli of TransTech Pharma; John O'Leary of get improved postal service in High Point in recent months. Thomas Built Buses; and Loren Hill of the www.usps.gov In an October 9 article in the High Point HPEDC. High Point’s elected leadership and the High Enterprise, UNC-TV reporter Rebecca Lindstrom Several High Point segments were shown in Point Economic Development Corp. worked with said that High Point was chosen because of its abil- 2003, and a High Point feature aired in early Congressman Howard Coble’s office and U.S. ity to change and adapt well to the new economy. January 2004. Postal Service officials to improve service for "When you look at major employing indus- northern High Point businesses and residents.

16 High Point Economic Development Corporation

IN THE NEWS

As a result, the U.S. Postal Service remodeled and upgraded its contract office at 2402 Hickswood CONGRESSMAN WATT TRADES PLACES Rd., Suite 104 – at the intersection of Eastchester www.house.gov/watt Congressman Mel Watt spent a day-and-a- pre-school at Christ the King Catholic Dr. and Hickswood. In May, a ribbon-cutting half in town in August at the invitation of the Church on E. Kivett Dr.; ceremony opened the upfitted facility, which High Point City Council and the High Point • Chambers Fabrics, Inc., a fabrics includes the first post office boxes in that area and Economic Development Corp. manufacturer, at 1914 S. Elm St.; an improved retail counter. The 12th District representative was the fea- • TransTech Pharma, a drug discovery company, tured speaker at the HPEDC board of directors at 4170 Mendenhall Oaks Parkway, Suite 110; meeting, where he discussed economic develop- • PharmaCore, a pharmaceutical commercial ment and workforce issues. development company, at 4170 Mendenhall Under the new congressional district plan Oaks Parkway, Suite 140. that went into effect in 2003, Congressman Watt represents 62.67% of High Point residents. He chose High Point for his trademark "trading places" visits – during which Saf-T-Liner® C2 school bus Congressman Watt works alongside citizens and meets with business owners to: 1) hear their Next-generation school bus made in High Point www.thomasbus.com opinions about the impact of the federal govern- In late 2003, Thomas Built Buses introduced ment on their work and lives, and 2) get a better its completely new Saf-T-Liner® C2 school bus – feel for the variety of businesses in his district. The four High Point locations were: which will be manufactured in High Point (please Congressman Mel Watt visits Chambers Fabrics also see story on Page 4). • DePaul Academy, a multi-cultural bilingual The modern-styled bus features best-in-class engineering, testing and manufacturing technology. Watch" business leaders. A High Pointer made that High Point works closely with Bus body construction comes directly from the list of notables -- Scott Tobin, chief executive officer Piedmont Triad Partnership aerospace industry -- a combination of adhesives of Wellington Hall, a furniture company. www.piedmonttriadnc.com and rivets which result in a sleek look, fewer poten- The Piedmont Triad Partnership is the primary tial leak points, and substantially stronger joints. McGuinn heads ElectriCities economic development marketing arm for North www.electricities.com Carolina's Piedmont Triad -- marketing the region Former High Point domestically and internationally to attract new busi- Economic Development ness investment and new job creation. Corp. Chairman Bill The High Point Economic Development Corp. McGuinn was elected continued to work closely with PTP in 2003. chairman of the board • HPEDC staff participated in PTP marketing for ElectriCities in 2003. trips to Toronto, Washington, and Greenville, SC. McGuinn represents High • PTP’s regional group of economic development Point on the board of that professionals elected HPEDC President Loren organization, which has 99 Hill as chairman in July. Thomas Built Buses aerial view of plant members and represents Bill McGuinn • Three HPEDC board members serve on the “Women in Business” and “Ten to Watch” cities that distribute electricity. PTP Executive Committee: Mayor Becky winners named Smothers, immediate past chair of the Piedmont The Business Journal of the Triad named winners of Culp, Inc., ranked statewide Triad Partnership; Judy Mendenhall, PTP its fourth annual "Women in Business" awards in www.culpinc.com Secretary; and Hill. 2003. Three of the 16 winners work at High High Point-based Culp, Inc., has placed 39th The Piedmont Triad Partnership’s region is com- Point companies: on "The N & O 100." The News & Observer posed of High Point / Winston-Salem / • Darlene Leonard, a partner with BDO Seidman; newspaper in Raleigh, in its June 1 edition, Greensboro and the surrounding 12 counties: • Linda Roney, vice president of business and ranked public companies that have headquarters Alamance, Caswell, Davidson, Davie, Forsyth, marketing for High Point Regional Health in North Carolina. The companies were ranked Guilford, Montgomery, Randolph, Rockingham, System; by fiscal 2002 revenue, stock changes over the Stokes, Surry, and Yadkin. • Dr. Grace Terrell, president of Cornerstone past year, and market capitalization. Health Care. Culp is one of the largest marketers of In early 2003, the weekly business newspaper upholstery fabrics for furniture and mattress also published its list of Piedmont Triad "Ten to fabrics for bedding.

17 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

NATIONAL RANKINGS FOR HIGH POINT & THE PIEDMONT TRIAD REGION

High Point, the Piedmont Triad region, and the Center for Regional Economic Issues. Manufacturing accolades North Carolina ranked high in 2003 in Twenty U.S. metro areas similar in size to our High Point and the Piedmont Triad region several categories. region were studied. ranked 2nd on the "hottest city for manufacturing” list of Expansion Management Magazine. 36th largest U.S. metro area Lowest-cost location for corporate HQ High Point is a city of 90,000 people locat- Real estate recognition A study released in 2003 by The Boyd Co. ed in the Piedmont Triad region of North The nation’s 2nd best real estate market, of Princeton, N.J., ranked High Point and the Carolina. The federal government definition of according to Expansion Management Magazine, is the Piedmont Triad as the lowest-cost location for the Triad shows us as the 36th largest metro area Piedmont Triad region. Fortune 500 companies operating their corpo- in the United States with 1.2 million residents. rate headquarters. The larger, 12-county Piedmont Triad One of the best business locations Partnership region is the home for 1.5 million in the world #1 U.S. business climate people. High Point and the Piedmont Triad region For the third straight year, Site Selection maga- rank as the 35th best place in the world for eco- zine rated North Carolina as the country's top “America’s 50 Hottest Cities” list nomic development potential. The Robert state in which to do business. In 2003, Expansion Management Magazine Huggins Associates, a British firm, studied the named the Piedmont Triad region as 4th on its developed regions of the world and looked at #1 in high tech growth ranking of "America's 50 Hottest Cities." The which areas are best prepared for creating and The Piedmont Triad region ranked first in ranking is based on those factors making a com- sustaining modern businesses the percentage of increase in technology jobs munity suitable for companies relocating or from 1990 to 2000, according to a report of expanding.

Special guests recognized at PHOTO ACKNOWLEDGMENTS “Growing and Thriving in High Point” On the cover: • Macedonia Family Resource Center Due to Williams Memorial CME Church • Polo Ralph Lauren (see article on Page 6) (see article on Page 12) being the 9th largest permitted project in 2002, • Rev. Robert Williams at the Williams Memorial CME Page 4: the church’s pastor, Rev. Robert Williams, gave construction site – photo by Don Davis, Jr., courtesy of • Kao Specialties America -- photo by Lenny Cohen, the High Point Enterprise (see article on Page 13) courtesy of The Business Journal the invocation at “Growing and Thriving in • Saf-T-Liner® C2 school bus – photo courtesy of • John O’Leary – photo courtesy of Thomas Built Buses High Point” – the 2003 Annual Meeting of the Thomas Built Buses (see articles on Page 4 & 17) • Mayor Arnold Koonce [second from left] and others at Page 5: High Point Economic Development Corp. (please • Team Emergent staff – photo from the company’s see Page 13). the Paychex groundbreaking ceremony – photo courtesy of Liberty Property Trust (see article on Page 7) website Also at the podium were Bank of America’s • Congressman Mel Watt with HPEDC Chairman Coy Page 9: Gary Gore (Page 7), Polo Ralph Lauren’s Mary Williard [left] and First Vice Chairman Hoyt Almond • Pavilion on Hamilton – rendering courtesy of Lawton (Page 6), and Thomas Built Buses’ John [right] (see article on Page 17) Samet Corp. • Gene Taylor, president of Consumer and Commercial O’Leary (Page 4). Page 13: Banking, at Bank of America announcement ceremony • Courtyard by Marriott – photo courtesy of Special guests, whose companies had (see article on Page 7) Kirkland, Inc. expanded recently, were applauded. They included: • Mayor Becky Smothers [right] and others at the • Albion Associates: Miles Barefoot Courtyard by Marriott hotel ribbon-cutting ceremony – Page 14: • Coldwell Banker – photo courtesy of • Anthem Leather: Bob Wilson photo courtesy of the High Point Chamber of Commerce (see article on Page 13) Kirkland, Inc. • Bank of America: Mark Hansen • N.C. Secretary of Transportation Lyndo Tippett Page 17: • Ciba Specialty Chemicals: Beth Collins Earnst speaking at the Depot dedication ceremony – photo by • Saf-T-Liner® C2 school bus and aerial of new • Graphic Printing Services: Bryan Hall David Holston, courtesy of the High Point Enterprise manufacturing facility – photos courtesy of • High Point Bank & Trust: Charles Myers (see article on Page 12) Thomas Built Buses • Liberty Property Trust: Massie Flippin • Mannington Laminate Floors: Roy Berrier MISSION OF THE HIGH POINT EDC • Paychex: Michelle Kingery The High Point Economic Development Corporation is a public-private economic • Providence Place: Sherry Denny and development organization whose mission is to: Rev. Joe Hilliard • work to retain existing business and industry in the City of High Point; • TennTex: Jan Presnell • Western & Southern Financial Group: Billy • assist local companies in expanding; Howell and Dan Smith • attract new businesses to locate in High Point; Don Cameron, president of Guilford Technical • encourage the creation of head-of-household jobs for Piedmont Triad residents. Community College, hosted the HPEDC meeting.

18 High Point Economic Development Corporation

HIGH POINT ECONOMIC DEVELOPMENT CORPORATION: BOARD OF DIRECTORS, 2003

EXECUTIVE COMMITTEE DIRECTORS LIAISONS

Chairman Robert Brown 4, B & C Associates, Inc. Guilford County Board of Commissioners Coy Williard, Williard-Stewart, Inc. Doyle Early 5, Wyatt, Early, Harris & Wheeler, LLP The Honorable Trudy Wade Joanna Easter, Showplace Jamestown Veterinary Hospital First Vice Chairman Lowell Easter, Triad Commercial Realty Tom Lindh 1, International Home Furnishings Center Joe Erba, Brayton International Guilford County Manager Hoyt Almond 2, BB&T Demetrious Gooden 5, High Point Bank & Trust Willie Best 5 Jeff Miller, High Point Regional Health System Roger Cotten 4 Second Vice Chairman David Miller, D.S. Miller, Inc. Milton Kirkland 3, Kirkland, Inc. James White 5, White Funding, Inc. Guilford Technical Community College Owen Bertschi 2, Crescent Ford, Inc. Richard Wood 5, Wachovia Securities, LLC President Dr. Don Cameron Treasurer / Secretary Chairman Emeritus Grady Barbee1 Bill Horney, Mirro-Products Company High Point Downtown Improvement Corporate Management Group, Inc. Committee Chairman Leah Price 2, Central Carolina Bank Past Chairmen Aaron Clinard, Fisher Clinard & Cornwell Bill McGuinn, consultant, First Citizens Bank High Point Mayor Jim Morgan, Morgan, Herring, Morgan, Green, High Point Convention & Visitors Bureau The Honorable Arnold J. Koonce, Jr. 4 Rosenblutt & Gill Attorneys Chairman The Honorable Rebecca R. Smothers 5 Nido Qubein, Creative Services, Inc. Clif Taylor, High Point Radisson Hotel

High Point City Manager High Point City Council High Point University President Strib Boynton The Honorable Latimer Alexander 5 Dr. Jake Martinson Latimer B. Alexander, Inc. President The Honorable David Wall 4, Jarrett's Stationery International Home Furnishings Loren Hill Market Authority President Honorary Member Judy Mendenhall Jim Fain, North Carolina Secretary of Commerce Greensboro Economic Development Partnership Chairman Coolidge Porterfield, Starmount Company

1 This person’s term as an officer and board member ended in 2003. 2 This person began serving as an officer in 2003. 3 This person’s term as an officer ended in 2003, but he continues to serve on the board. 4 This person’s term ended in 2003. 5 This person’s term began in 2003.

HIGH POINT ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS (left to right) Seated – Bill Horney, Coy Williard, Mayor Arnold Koonce, Jim Morgan, Hoyt Almond Standing, second row – Don Cameron, Aaron Clinard, Clif Taylor, Joanna Easter, Richard Wood, Doyle Early, Judy Mendenhall, Councilman David Wall Standing, third row – Loren Hill, James White, Robert Brown, David Miller, Grady Barbee, Roger Cotten, Owen Bertschi, Demetrious Gooden, Jake Martinson, Lowell Easter Where Technology & Tradition Thrive Not pictured – Councilman Latimer Alexander, Willie Best, Strib Boynton, Joe Erba, Jim Fain, Milton Kirkland, Tom Lindh, Bill McGuinn, Jeff Miller, Coolidge Porterfield, Leah Price, Nido Qubein, Mayor Rebecca Smothers, County Commissioner Trudy Wade

19 High Point Economic Development Corporation 2003 ANNUAL REPORT: GROWING ANDTHRIVING IN HIGH POINT

HIGH POINT EARNS WORLDWIDE FAME FROM ITS INTERNATIONAL HOME FURNISHINGS MARKET Mention the name “High Point” in Tokyo, furniture, decorative accessories, lighting, Due to the efforts of the City of High Tbilisi, Nairobi, Buenos Aires, Melbourne, rugs, and bedding. Point and its business leaders, the International Milan, or Kansas City, and chances are some- Home Furnishings Market Authority was one will respond with “furniture!” Most important, you wonder? formed in 2001 to sponsor the Market. The • Domestic attendees come from all 50 states. Authority has taken the leadership role in Indeed, the International Home • In an average year, 10,000 foreign visitors improving and expanding High Point’s Market Furnishings Market – what longtime High attend. Those international guests come as a world-class show. Pointers still refer to as the “Furniture Market” from more than 110 countries. -- is the largest, and most well-known and The Authority’s efforts led North Carolina • Market is the biggest and most important important wholesale home furnishings trade state government to take notice in 2003. economic event in North Carolina. show in the world. • For the first time, the North Carolina Estimates are that more than $1 billion go General Assembly and the N.C. Board of Largest, you ask? to our state’s economy each year from Market. Transportation appropriated funds for • An average of 80,000 persons attend each The 95-year-old High Point Market is High Point’s Market: $900,000 for of the two Markets held every year: manu- here to stay, having experienced amazing transportation needs. facturers, exhibitors, sales representatives, growth throughout its history. In just the • State legislators and transportation officials retail home furnishings buyers, interior last decade: were the guests of the Market Authority at designers, architects, exhibitor support • Total attendance is up 19%. the October Market so that they could see personnel, suppliers, and news media. • International attendance has grown by 130%. firsthand the incredible undertaking that • The International Home Furnishings • The number of countries represented has occurs twice each year in High Point. Market uses an astounding 11.5 million increased 69%. • In addition, the High Point Economic square feet of showroom space in 185 • The number of exhibitors is up 58%. Development Corp. was the successful separate buildings. • The square footage of exhibit space has applicant on behalf of the Market • Each Market -- held for seven days in both climbed by 57%. Authority for a Golden LEAF Foundation April and October -- features approximately • The number of showroom buildings has grant of $50,000 to “market the Market.” 3,000 manufacturers and exhibitors: com- increased by 23%. panies that sell casegoods, upholstered

HIGH POINT’S INTERNATIONAL HOME FURNISHINGS MARKET www.highpointmarket.org The economic impact of Market on North Carolina’s economy each year -- from just the Market attendees’ expenditures --- exceeds over $330 million, the biggest economic event in the state. That’s small change. The total economic impact of Market has been estimated at more than $1 billion dollars each year. How does High Point’s Market compare economically to other recent, major U.S. events? • Indy 500: 250,000 attendees, spending approximately $237 million • Kentucky Derby: 80,000 attendees, accounting for approximately $51 million • Super Bowl: 67,000 attendees, spending approximately $42 million • World Series: 45,000 people per day, spending approximately $100 million • Atlantic Coast Conference Men’s Basketball Tournament: 24,000 attendees per day, spending approximately $30 million

HIGH POINT ECONOMIC DEVELOPMENT CORPORATION P. O. Box 230, High Point, NC 27261 USA 336-883-3116 Fax: 336-883-3057 www.high-point.net/edc e-mail: [email protected]