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High Point Economic Development Corporation 2019 Annual Report

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High Point Economic Development Corporation 2019 Annual Report HIGH POINT High Point American Economic Development City of the Corporation 2019 Annual Future Report HIGH POINT : American City of the Future 2019 is impressive year High Point named an “American City of the Future” Dear High Point residents, business leaders, and allies: The City of High Point has been recognized as one of the Western Hemisphere’s “American Cities of the Future” for 2019-2020. What an accolade our city received! High Point has been recognized as one of the “American Cities of the Future” for 2019-2020. The foreign direct investment honor The accolade – from fDi Magazine, a publication of The Financial Times of London – recognizes High Point’s comes from fDi Magazine, a publication of The Financial Times of London. efforts, successes, and assets in landing foreign direct investment projects (when a firm or individual in one country makes a business investment in another country). In this annual report, you will learn more about that impressive recognition, other ways High Point demonstrates it is appropriate to call it a city of the future, and our As an “American City of the Future for 2019-2020,”High major 2019 economic development announcements. Point was honored as one of “the cities which have the Sincerely, best prospects for cross-border investment, economic development, and business expansion.” At the High Point EDC 2019 • High Point was ranked in the Top 10 in the annual meeting in November, category of cost effectiveness – for Darlene Leonard was thanked Darlene Leonard Loren Hill municipalities in North America and South for her two years of service High Point EDC Chair High Point EDC President as chair. America with populations between 100,000 and 350,000. High Point and Greensboro demonstrating • Learn more by going to the News Flash section “unique and commendable” economic development collaboration on highpointedc.com. • High Point – which calls itself North Carolina’s At a time when many headquarters are relocating, One of the consultants for the Fresh Market project International City™ – has more than 80 foreign- Fresh Market’s corporate offices will not only be was on the panel. When it was her turn, without High Point’s success in foreign direct investment was highlighted based companies. Please see Page 23. on November 15, 2019, when Netherlands-based AkzoNobel broke staying in Guilford County, but the company will be mentioning the location or project by name – and not The “American Cities of the Future” awards were ground for its newest facility in the city. Pictured (left to right) are expanding (see Page 12). knowing Hill was in the audience – the consultant Mayor Jay Wagner, past High Point EDC Chair Jim Morgan, along talked about one of her projects for which two cities presented at the annual conference of the International with AkzoNobel’s CEO Thierry Vanlancker and Communications It was a unique team effort. were working together on a project, willing to sup- Economic Development Council, held in Indianapolis, Manager Beth Earnst, who serves on the High Point EDC board. • With the company’s leases soon to expire, Fresh port the company regardless of which building in the Indiana, in October. Please also see Pages 10, 23. Market considered many options. Rising to the top county might be chosen. were a building in High Point, two locations in Greensboro, and an out-of-state facility. She asked her colleagues on the panel if any had • Due to the close working relationship of the heard of anything like this type of cross-border partners in the Guilford County Economic Development collaboration anywhere in the U.S., and none had. At Alliance (Page 24), the High Point and Greensboro the joint public hearing, Hill said that the five consul- city councils agreed that this project was so tants’ responses indicated that the unprecedented important that performance-based incentives High Point-Greensboro joint effort is not just a unique would apply from each city – regardless of approach for those cities but also for any two whether the project would land in High Point communities anywhere. Cost Effectiveness: or Greensboro. Top 10 American Cities of the Future President Chris Chung of the Economic Development • To underscore that collaboration, for the first High Point EDC President Loren Hill (center) received his city’s Partnership of North Carolina congratulated the two For Western Hemisphere cities with time the two local governments held a joint “American Cities of the Future” recognition from two fDi Magazine cities for being part of this “unique and commendable officials: Editor Courtney Fingar (right) and GIS Planning Managing populations between 100,000 and 350,000 public hearing at which each of the city councils collaboration” that he expects “will be cited often as Director Anatalio Ubalde. authorized performance-based incentives for the RANK CITY COUNTRY a best practice in the industry.” Fresh Market project. 1 Alajuela Costa Rica 2019 BY THE NUMBERS 2 Heredia Costa Rica High Point EDC President Loren Hill reported at the 3 Cartago Costa Rica joint public hearing that he attended the annual 4 Akron, Ohio United States conference of the International Economic Development 5 Ensenada, Baja California Mexico Council in October 2019. At one of the sessions, a panel City of High Point 6 High Point, North Carolina United States of site selection consultants was asked what “new” or American City of the Future 7 Spartanburg, South Carolina United States innovative things they were seeing from communities 8 Ciudad Acuña, Coahuila Mexico across the U.S. The High Point and Greensboro city councils held the first ever Top 10 9 Reno, Nevada United States joint public hearing to authorize Fresh Market performance-based for foreign direct investment 10 Fort Wayne, Indiana United States incentives (photo courtesy of Triad Business Journal). Internationally-based 80 companies in High Point 2 High Point Economic Development Corporation 2019 Annual Report HIGH POINT : American City of the Future 3 Transforming downtown High Point Downtown High Point: The Place for Investors and Growing Businesses The transformation of downtown High Point is underway due to an impressive collaborative effort of city Throughout 2019, the High Point EDC staff worked with government, High Point University President Nido Qubein along with other business and community leaders, initiatives which can help revitalize downtown and the downtown revitalization organization Forward High Point, several benefactors, and master developer surrounding areas. Elliott Sidewalk Communities. Small-scale manufacturing in downtown The High Point City Council had established a strategic The City of High Point is working to enhance small-scale goal “to create a downtown catalyst project” to manufacturing as part of its downtown efforts. increase the commercial tax base and create a public • According to a Smart Growth America report, “High gathering space – drawing residents and visitors year- Point is poised to create a strong new downtown and round. In three years, that idea has gone from a vision a revitalized small-scale manufacturing sector.” The to the opening of newly-built facilities. southwest quadrant of the city “is a wonderful The anchor of activity within the redevelopment area is location for these two efforts to come together.” the City of High Point’s $36.6 million multi-use stadium, • The City of High Point applied for and received a Tom Van Dessel – Splashworks president and a past High which opened in May 2019. At the groundbreaking for 275 North Elm were (from left): Jim Smart Growth America technical assistance grant to Point EDC board member – is helping lead the way in High Flannery of Elliott Sidewalk Communities, Elise Peters Carey of • The High Point Rockers professional baseball team help the city make strategic land-use decisions that Point’s downtown small-scale manufacturing efforts. He Peters Development, Mayor Jay Wagner, City Manager Greg moved his company to within sight of the new multi-use calls that stadium home. The team belongs to the will support local producers to grow their businesses. Demko, Tim Elliott of ESC, Brian Rogers of ESC, Councilman stadium. Please see article on Page 11. 21-year-old Atlantic League of Professional Baseball, Wesley Hudson, Ray Gibbs of Forward High Point, and High • A site visit by Smart Growth America and ReCast which is an independent professional league. During Point EDC President Loren Hill. Cities led to the “High Point Small-Scale Opportunity Zones in downtown its first season in 2019, the Rockers finished with 74 Existing buildings near the stadium are being Manufacturing and Place-Based Economic wins and 66 losses, making it to the playoffs. repurposed. Plant Seven and The Factory had originally Development” report. A citizen task force and city Investors across the nation have begun looking to • The stadium has been designed to accommodate been adjacent hosiery factories of the Adams-Millis staff group are implementing the recommendations. develop projects in federally-recognized Opportunity soccer, football, and lacrosse also. Corporation and more recently furniture showroom/ • Staffing the effort are the Economic Development, Zones – a recently-added tool designed to spur • It will be hosting concerts, festivals, and other event space. Community Development and Housing, Planning, and economic development and job creation. community activities. • Plant Seven will be an incubator for makers and Library departments. • High Point has three Opportunity Zones, and two of • The facility has seating for 4,400. With standing designers – embracing the collaborative economy, those zones are in the city’s downtown area. room, it can accommodate more than 5,000. innovation, craftsmanship, and small-scale • An Opportunity Zone task force has been created, manufacturing. It is an initiative of HP365, a nonprofit 2019 BY THE NUMBERS staffed by the High Point EDC. led by Business High Point-Chamber of Commerce In October 2019, the High Point EDC produced with support from David Congdon, The Earl and “Downtown High Point: The Place for Investors and Kathryn Congdon Family Foundation, High Point Growing Businesses” – a brochure featuring downtown University, and others.
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