High Point, North Carolina

2006 ANNUAL REPORT High Point Economic Development Corporation

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Mission of the High Point Economic Development Corporation The High Point Economic Development Corporation is a public- private organization whose mission is to: • work to retain existing business and industry in the City of High Point; • assist local companies in expanding; • attract new businesses to locate in High Point; and • encourage the creation of head-of-household jobs for Piedmont Triad residents.

HIGH POINT ECONOMIC DEVELOPMENT CORPORATION P. O. Box 230, High Point, NC 27261 USA 336-883-3116 Fax: 336-883-3057 HIGH www.highpointedc.com e-mail: [email protected] POINT D ESIGNED BY G RAVES M ARKETING &DESIGN TM NORTH CAROLINA’S INTERNATIONAL CITY T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

Dear Fellow High Pointers: High Point’s Major Projects for 2006 2006 Project of the Year: Polo.com Without a doubt, 2006 was a key year in High Point’s long history of economic development successes. Polo.com chooses High Point for major facility “High Point warmly welcomes Polo.com to our City. Not only is adding $40 million to the tax base, creating 250 jobs Polo.com, DaimlerChrysler’s Thomas Built Buses, NASCAR’s Bill POLO the company making a significant investment and adding quality Davis Racing, La-Z-Boy, and TriQuint Semiconductor led an Ralph Lauren Media will open a major fulfillment / distribution jobs, but its presence here – along with its sister Polo Ralph impressive list of local companies expanding and new businesses center facility in High Point for its Polo.com operations. Lauren existing facility – brings international attention from a locating here. company name known and respected across the globe.” Sarah Gallagher, president of Ralph Lauren Media, and Tony -- Mayor Becky Smothers Highlighted throughout this report are 56 organizations, such as Copeland, assistant secretary of the N.C. Dept. of Commerce, City of High Point the ones noted above, that had positive economic development made the announcement on October 26 in High Point’s city October 26, 2006 hall. Joining them at the podium were High Point Mayor Becky news in 2006. More than 2,610 jobs were created or announced Smothers and Guilford County Commissioners Chairwoman by these and other companies. Carolyn Coleman. Ralph Lauren Media is a joint It is no wonder that the High Point Enterprise reported in a venture among the Polo Ralph November 20 article that High Point experienced a “banner year [The City of High Point and the High Point Economic Lauren Corp., the National for economic development” in 2006. Development Corp.] “really proved to us that they were forward Broadcasting Company (NBC), thinking, that they were innovative, and that they knew what we and ValueVision Media, Inc. Such success does not occur on its own. Also featured in this needed to grow the business. We are absolutely thrilled to be report are the various keys that make High Point a great place here. This is our second step here in High Point ... and we know Since 1991, Polo Ralph Lauren for doing business: we’ll have many, many successes here to come.” has had a major distribution center at 4100 Beechwood Dr., --Sarah Gallagher •business-friendly city government • the High Point Market in High Point. President, Ralph Lauren Media • strategic location / transportation network • workforce and worker training Assistant Secretary Tony Copeland News conference, October 26, 2006 • business parks, developers, and • largest employers and taxpayers at news conference commercial real estate firms • High Point being North Carolina’s High Point City Limits Future growth areas • leadership International City™ High Point was chosen after a lengthy search of many sites in “It has been an intense several months as we worked with the • allies and public / private partnerships • industry clusters. High Point’s major 2006 economic development projects1 reflect a several states. company -- reviewing sites, discussing Polo.com’s needs, and From time to time, our mayor may present a prominent visitor diverse group of industry sectors. They show geographic diversity too – half are in southern High Point and half in northern High Point. In two phases, the Polo.com project will add at least $40 mil- meeting with company representatives both here in High Point with a symbolic key to the City – photos of two such presenta- For details on each project, please go to the page indicated and see lion to High Point’s tax base: and in New York City. We are pleased that Polo.com chose High tions are in this report – but the reason High Point does so well the accompanying map. • $23 million from the construction of a new facility; Point as the best location in the United States for this major facility.” in business and economic development matters is due to these • $17 million from the installation of its machinery and --Loren Hill key attributes of our City. DISTRIBUTION / LOGISTICS AUTOMOTIVE-RELATED / MOTOR- equipment. (Page 15) SPORTS (Page 16) President 2 High Point Economic Development Corp. Join us in celebrating our City’s economic development accom- A. Ashley Furniture L. Bill Davis Racing B. FedEx / Piedmont Triad M. Thomas Built Buses In addition, up to 250 October 26, 2006 plishments – and the many reasons High Point achieves them – International Airport (a division of Freightliner, jobs will be created. as you review the 2006 Annual Report: The Keys to the City of C. Legacy Classic Furniture 2 a DaimlerChrysler company) 3 Those jobs will be in High Point. D. Polo.com (Page 3) management, technology HIGH TECH (Page 16) support, warehouse / dis- Incentives authorized for Polo.com HOME FURNISHINGS / FURNITURE- N. TriQuint Semiconductor RELATED 2 (Page 14) O. Tyco Electronics 3 tribution, call center, and Incentives totaling $4,395,000 were authorized for the E. Future Foam 3 stitching – with an average Polo.com project. F. La-Z-Boy HEALTHCARE (Page 17) wage of almost $34,000 Jeffrey S. Miller Loren Hill G. Lifestyle Enterprises P. Cornerstone Healthcare per year. H. Lodging by Liberty (a division of Q. High Point Regional Health System David Rush from Polo.com at HPEDC The City of High Point’s portion of the incentives will be: Chairman of the Board President Brown Jordan International) 3 annual meeting • up to $1.4 million, paid in three installments after the facility High Point Economic Development Corporation CUSTOMER SERVICE (Page 17) opens; MANUFACTURING 3 R. Bank of America • the on-site use of an electric generator and related electric S. NCO Group The Polo.com facility is being built on N. Pendleton St. in the equipment -- valued at up to $725,000; and FRONT COVER PHOTO ACKNOWLEDGEMENTS EDUCATIONAL / INSTITUTIONAL Kivett Drive Industrial Park. Robin Team, of Carolina Investment RETAIL / SERVICE • the waiving of City permits and fees, valued at $100,000. (from left to right, from top to bottom) (Page 18) (Page 18) Properties, is the developer. I. High Point University T. Vann York Toyota •Vince Hedgepeth, Amandeep Mann, Mark Schroeder, • Robin Team, Carolina Investment Properties; J. Pennybyrn at Maryfield U. Wal-Mart Supercenter Other governmental incentives include: and Scott Dingus of the City’s Tech. Review Comm. Arthur Samet, Samet Corp.; Massie Flippin, Liberty K. River Landing at Sandy Ridge Both Team and David Rush of Polo.com were featured speakers at • up to $1,520,000 from a Jobs Development Investment Grant • Mendenhall Station (new transportation hub for the Property Trust; and Lowell Easter, Triad Commercial the High Point EDC annual meeting on November 16 to give a High Point Market) Properties 1 by the State of North Carolina; and These top projects were chosen for meeting at least one of these criteria in 2006: investing at least $3 million, behind-the-scenes look at the project. • High Point University’s International Promenade •William Hsieh, Lifestyle Enterprises according to permits issued by the City; creating or announcing at least 50 new jobs; receiving High Point City • up to $650,000 authorized by the Guilford County Board of • City Mgr. Strib Boynton, Mayor Becky Smothers, •Don Cameron, Guilford Tech. Community College Council authorization for incentives; or continuing with construction on a previous year’s major project. 2 Commissioners. Bryan McClure of the Blair Group •Ted Johnson, Piedmont Triad Airport Authority Ashley Furniture and Legacy Classic Furniture can be categorized in both the distribution and furniture sectors. • Lillian Plummer, Workforce Development Bd. 3 Future Foam, Lodging by Liberty, Thomas Built Buses, and Tyco Electronics can also be categorized in the manufacturing sector.

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Business-friendly city government

Most cities say they are business-friendly. That phrase, though, City departments are part of the team is often more of a motto than an ingrained approach to getting City of High Point: The city’s business-friendly team consists of more than elected things accomplished. Having a Can-Do /Make-It-Happen Attitude officials, the city manager, the two assistant city managers, and the High Point EDC. It is also made up of various municipal High Point prides itself on not just saying it is business-friendly but “Leaders with vision and ‘can-do / make it happen’ attitudes were recognized as a major strength in High Point. That attitude departments working hand-in-hand with those officials. being a business-friendly city government, working in close partner- • When recruiting a new company, the High Point EDC calls on ship with our business community. The mayor, city council, and is evident in the professionalism and entrepreneurial approach various department heads and their staff to help. city manager set that tone and ensure it is carried out. to economic development by the City government and High Point • The Technical Review Committee meets weekly to review Economic Development Corporation staff.” plans for new projects or expansions. The committee’s For companies already doing business in town: -- The Sanford Holshouser Business Development Group charge from the city manager is to make sure approvals and •the doors of the mayor, city council, and city manager are always “Marketing Plan for High Point” (contracted by ElectriCities) permits get done in a timely, efficient way. The TRC is open to a local business leader on any issues that might arise. www.highpointedc.com/study.cfm composed of representatives from the city’s planning, water • the High Point EDC functions as a municipal omsbudsman, helping and sewer, transportation, inspections, fire, electric, and a company navigate the city bureaucracy to get in contact with the engineering departments. appropriate city agency on any issue. • Unlike most cities in the Piedmont Triad region, the City of High Point operates its own electric utility, serving significant For prospective companies considering portions of the city’s territory. Prospective companies in the Representatives from the City’s Technical Review Committee (from left to right): High Point: city’s electric service area can thus have close interaction with the Vince Hedgepeth, electric dept.; Amandeep Mann, transportation dept.; • the High Point Economic Mark Schroeder, TRC coordinator, planning and development dept., Development Corp. is part of city and Scott Dingus, engineering services dept. government, which is unique in our City of High Point: electric provider. The electric department worked hand-in- 12-county region. That arrangement Meeting Aggressive Timetables hand to land the Polo.com project, for example. Commercial ensures that a prospective company “The City Manager and High Point Economic Development Corp. customers are a High Point electric priority. deals with one decision-making quickly brought together the team of city departments once • The High Point Fire Department has a high ISO fire insurance entity rather than multiple groups. Polo.com chose our Kivett Drive Industrial Park site in High rating. Having one of the top ratings allows businesses the •a High Point client will always deal opportunity to receive one of the lowest fire insurance rates with the “A” team in High Point - - Point. Permitting thus went smoothly, allowing us to meet the available from their insurance carrier. Mayor Becky Smothers, City company’s aggressive timetable. Bringing all departments • Due to good planning, High Point has an ample water supply Manager Strib Boynton, and the together at once ensured there were no surprises later.” today to serve residents and businesses – even before the senior HPEDC staff. --Robin Team regional Randleman Reservoir comes online in a few years. • the City of High Point understands Carolina Investment Properties High Point’s current supply allows the city to sell water to the timeliness needed to make a High Point EDC annual meeting nearby municipalities. project work. Thus, the city manager November 16, 2006 will set up a municipal team to work closely with the company on city 2006 High Point City Council (from left to right): seated – Councilwoman Bernita Sims permitting and inspection issues for a project. High Point (mayor pro tem until Dec. 4, 2006), Mayor Becky Smothers, Councilman John Faircloth City of High Point: has a proven record of ensuring companies meet fast-track (mayor pro tem beginning Dec. 4); standing – council members Michael Pugh, Being a Credible and Reliable Partner construction schedules. Chris Whitley, Lisa Stahlmann, Ron Wilkins, Latimer Alexander,and Bill Bencini • the city manager assigns one primary city contact person to “It became obvious very early in the process that High Point was ensure a smooth, efficient, and problem-free project. rising to the top in our site selection -- when City Manager Strib • High Point’s public / private partnership continues after a Boynton and High Point EDC President Loren Hill came to New York company locates here. and stepped forward to say ‘here is what High Point is willing to do.’ City of High Point: Demonstrating a Business-Friendly Approach “We knew from past experience with our sister company (Polo Ralph "The unanimous vote for incentives from the High Point City Council Lauren Corp.) … that this was not just smoke and mirrors – this -- as well as the ongoing business-friendly approach of Mayor Becky was serious talk. Smothers, City Manager Strib Boynton, and the staff of the High Point “Every step of the way, they’ve been not only good to their word – but Economic Development Corp. -- have convinced us at TriQuint that beyond their word.” High Point is where this new facility can be the most successful.” --David Rush - -Darrell Epperson Polo.com TriQuint Semiconductor High Point EDC annual meeting June 27, 2006 November 16, 2006

Receiving the key to the city (from left to right): City Manager Strib Boynton, Mayor Becky Smothers and Bryan McClure of the Blair Group, a consultant for Polo.com

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Business-friendly city government

Receiving the key to the city (from left to right): City Manager Strib Boynton, Mayor Becky Smothers and Bryan McClure of the Blair Group, a consultant for Polo.com

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Strategic location / transportation network Business parks, developers, and commercial real estate firms

Do you need to distribute your products easily to the majority of High Point has a wide range of available buildings and buildable • Robin Team, president of Carolina Investment Properties the population in the United States? City of High Point: sites – and professional developers, commercial real estate (www.cipnc.com), had major announcements in 2006 in two High Region’s FedEx Hub to be Significant Boost firms, and landlords – to take care of an ever-growing array Point parks – Polo.com chose Kivett Drive Industrial Park, and Does your company need the services of an airport cargo hub and “Our primary shipper is FedEx. Being close to a FedEx hub is of office and industrial companies. Legacy Classic Furniture selected Premier Center. Team was a an international airport? very important to us.” featured speaker at the 2006 annual meeting of the High Point Some communities have had to construct their own buildings Economic Development Corp. --David Rush, Polo.com or develop their own office / industrial parks to accommodate Would access to five interstate highways be important? High Point EDC annual meeting growth. High Point’s taxpayers have not needed to own such Commercial Real Estate Firms November 16, 2006 property, because private developers have routinely stepped for- • Not all of High Point’s buildings and sites are in business parks, of High Point’s strategic location and transportation assets make all of ward to work with the city to develop industrial and office options. course. Those non-park properties can be ideal for a company’s those things happen. expansion or new facility. To see the list of commercial real estate firms • High Point and its Piedmont Triad region are halfway between Business Parks and developers that have property listings with the High Point Economic Boston and Miami, halfway between Washington and Atlanta, In High Point’s many quality business parks, Development Corp., please go to www.highpointedc.com/realtors.cfm. and halfway between Charlotte and Raleigh. Piedmont Triad International adding runway (www.highpointedc.com/MapHPBusinessParks.pdf) a company can find • The High Point EDC works closely with the Realtors Commercial • High Point is in the geographic center of the Piedmont Triad FedEx Mid-Atlantic Hub work continues land on which to build a facility or superior “second-generation” Alliance of the High Point Regional Association of Realtors. region and its 1.5 million residents. www.flyfrompti.com www.fedex.com buildings ready to house a new tenant. •FedEx is building a hub at Piedmont Triad International Airport. 2006 Additions to High Point’s Buildings Inventory •Six other air cargo companies serve our airport. In 2006, work continued at Piedmont Triad International Airport Piedmont Centre is the largest park – 1,100 acres, with approximately New buildings were announced in High Point in 2006. •Interstate 85, I-40, I-73 and I-74 are all either in High Point’s city for the FedEx Mid-Atlantic Hub project. The company’s fifth 10,000 employees working at more than 200 companies. • Lowell's Run Building 1 – Liberty Property Trust began construction limits today or soon will be. I-77 is nearby, in the western part of national hub is slated to open no later than mid-2009. on a $4.1 million, 120,000-sq. ft. building on Premier Dr. our region. • South Oaks II – Liberty Property Trust applied for city permits for a • The Triad boasts passenger and freight rail services through The structure, being built approximately three miles from the High $1.6 million, 47,074-sq. ft. building on Mendenhall Oaks Parkway. Norfolk Southern, CSX, and Amtrak and has an inland terminal Point city limits, will be a $300 million, 1 million-sq. ft. air cargo • Deep River West – Samet Corp. made a $1.6 million, 41,946-sq. ft. for North Carolina’s deep water ports. package-sorting facility. expansion to its building at 600 Pegg Rd. • More than 100 trucking companies, such as MGM Transport and •W. Market Center Dr. building – Craven-Johnson-Pollock built a $1.2 Old Dominion, serve the Triad with more than 60 local terminals. The FedEx hub is seen as a major regional economic development million, 36,000-sq. ft. building at 905 W. Market Center Dr. generator. Following the examples of other FedEx hubs in the • 1623 York Ave. -- Greenwood & Charles built a 9,940-sq. ft. building. country, a host of companies with distribution needs are expected to locate in High Point and surrounding communities when the hub opens. Additional industrial parks to be added High Point’s Foreign Trade Zone expanding Work in 2006 included moving dirt for the construction of a third runway, building a new expressway and local roads, and preparing High Point’s portion of the region’s Foreign Trade Zone is expanding with the addition of several office / industrial parks. the site for the FedEx building. Robin Team, Arthur Samet, Massie Flippin, Lowell Easter The High Point Economic Development Corp. has been working A consultant study contained in the project’s Environmental Major Developers The High Point EDC is fortunate to work with several first-rate with the Piedmont Triad Partnership, which administers our Impact Statement assesses the FedEx project. region’s FTZ, on the expansion. • The company will hire approximately 750 workers in Phase 1. developers. The ones with whom High Point works most frequently are highlighted below. •A total of 1,500 employees will be on board with Phase 2. Three areas of High Point will be included in the FTZ: • Lowell Easter was the mastermind behind Piedmont Centre, which • As a result of the hub, nearly 20,000 other new jobs could be • Piedmont Corporate Park, developed by Samet Corp.; received City Council zoning approval in 1987. In 2006, he began created in the region over a 16-year period. • Premier Center, developed by Carolina Investment Properties; and work on a retail / business park on the east side of Eastchester Dr., • $703 million in new state tax revenues and $236 million in new • four business parks in the larger Piedmont Centre park -- Lowell's adjacent to Piedmont Centre. Easter is a long-time board member local tax revenues will be generated over the 16-year period. Run, Eagle Hill, Federal Ridge, and Green Point -- owned by Liberty Stephanie Freeman and Ted Johnson, of the High Point EDC and works today with Triad Commercial of the Piedmont Triad Airport Authority Property Trust. In 2006, the airport also built a $6.2 million, 40,000-sq. ft. Properties (www.triadcommercial.com). expansion of the north passenger concourse, which added • Samet Corporation (www.sametcorp.com) developed Piedmont The Kivett Drive Industrial Park -- owned by Carolina Investment City of High Point: several new gates. New space for enhanced security was also built. Corporate Park and Deep River Corporate Center in High Point. Properties -- and other areas in southern High Point will remain in Superior Transportation Center The company also owns a considerable amount of commercial land the FTZ. “We are thrilled to be able to find a great location … in the center and buildings throughout the city. Norman Samet, who founded the company, is a former member of the High Point EDC. His son, According to the Piedmont Triad Partnership, among the many of the best furniture transportation hub in the country, providing Arthur Samet, is company president. benefits of being in a FTZ are: customers with the best and least expensive furniture transporta- • Liberty Property Trust (www.libertyproperty.com/offices_highpoint.asp) • duty deferral – Customs duties are paid only when imported tion rates in the country.” is a national real estate investment trust whose Piedmont Triad merchandise is shipped into US Customs territory. --Kevin O’Connor regional office is headquartered in High Point. Liberty, our city’s • exports – Customs duties are not paid on merchandise exported Legacy Classic Furniture third largest taxpayer, developed the Mendenhall, Eagle Hill, and from the zone. June 22, 2006 Lowell’s Run portions of Piedmont Centre. The company is the • defects, damage, waste – Duties are reduced or eliminated on landlord for many High Point companies. Massie Flippin is the merchandise lost to defect, damage, obsolescence, waste and scrap. manager of the regional office.

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Strategic location / transportation network Business parks, developers, and commercial real estate firms

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Workforce and worker training Allies and public / private partnerships Success in High Point has come from taking advantage of our long- N.C. Dept. of Commerce When companies in High Point need to find and / or train workers, Employment Security Commission of North Carolina term public/ private partnerships and working well with our regional The North Carolina Department of Commerce (www.nccommerce.com) there are no better allies than Guilford Technical Community www.ncesc.com economic development allies. The local economy is regional; it does interacts regularly with the High Point EDC. College, the Greensboro / High Point / Guilford County Workforce The Employment Security Commission not stop at any municipal or county boundary. Thus, positive • Secretary of Commerce Jim Fain is an honorary member of the Development Board, and the local office of the N.C. Employment of North Carolina, with a local office in economic development news anywhere in our Piedmont Triad HPEDC board. In the mid-1980s, he was a High Point business Security Commission. The High Point EDC calls on them routinely High Point, plays a key role for local region is also positive news for High Point -- for local businesses leader and served as an officer of the HPEDC board. to help with companies considering locating here or companies employers: and for residents seeking jobs. • Bill Shore (new business) and Melissa Foust Smith (existing needing to fill new positions. • helping find the staff they need to business) are based just outside the High Point city limits and carry out their business; and Public / private partnerships worked with the HPEDC on many projects in 2006. Workforce issues are important to High Point. • serving as a career resource center for Most communities boast of having worthwhile public / private partner- • Raleigh-based economic developers also work with High Point on a • In 2006, the High Point Economic Development Corp. partnered with workers at all skill levels and age ships. In High Point’s case, though, it has not been merely a catch host of projects each year. Richard Roberson, for example, was the Workforce Board, Guilford Tech, and local representatives of the groups; and phrase, but the standard way of doing business for decades. instrumental in helping High Point land the Polo.com project in North Carolina departments of commerce and labor to form the High • providing labor market information. Karen Leonard with the • High Point’s largest office / industrial park, Piedmont Centre, 2006 (Page 3). Point Business Services Group. That group works to serve High Employment Security Commission of North Carolina came about 20 years ago from the City of High Point Point's existing and prospective businesses and determines those partnering with a developer. Piedmont Triad Partnership companies’ workforce needs. • The High Point Partners (see below) and the City have worked closely The Piedmont Triad Partnership (www.piedmonttriadnc.com) is the • In 2005, the High Point City Council authorized a High Point City of High Point: on a host of economic development and civic endeavors over the primary economic development marketing arm for North Workforce Preparedness Study. Throughout 2006, a group of Skilled Workforce years – including the creation of the High Point Economic Carolina's Piedmont Triad -- marketing the region domestically community leaders worked to develop a strategic plan -- based on “We are pleased to establish our (Lodging by Liberty) divisional Development Corp. and internationally to attract new business that study -- to strengthen the community's workforce capacity. headquarters in High Point, the Home Furnishings Capital of the • Due to the efforts of the City of High Point and its business leaders, investment and new job creation. WorldTM. High Point offers the skilled workforce we require…” the High Point Market Authority was formed in 2001. The Authority Greensboro - High Point - Guilford County Workforce Board --Paul C. Koehneke sponsors the High Point Market, the world’s largest home furnishings PTP works closely with the High Point www.guilfordworks.com Brown Jordan International trade show (Page 15). The Greensboro-High Point-Guilford County Workforce Development Economic Development Corp. and our December 12, 2006 regional counterparts to bring new Board, a public-private organization, assists City of High Point: businesses with all phases of the workforce — business and industry to our region. In 2006, Cooperation with the Business Community PTP began administering the WIRED work- helping them locate, screen, select, and train Receiving $15 million workforce grant "What makes High Point unique and successful is the coopera- employees. force grant (Page 8). High Point’s Piedmont Triad region gets WIRED tion between city government and the business community.” Don Kirkman of Piedmont The board provides valuable tools, services In 2006, the U.S. Department of Labor awarded High Point’s --The Sanford Holshouser Business Development Group Our Piedmont Triad region – the nation's Triad Partnership and support—at little or no cost—to employers Piedmont Triad region a major grant to support a comprehensive “Marketing Plan for High Point” (contracted by ElectriCities) 36th largest metropolitan area with more and job seekers. workforce development and economic development strategy. www.highpointedc.com/study.cfm than 1.5 million residents -- is composed of: • the cities of High Point, Greensboro, and Winston-Salem; The Workforce Board administers Job Link The Workforce Innovations in Regional Economic Development • the four counties in which High Point lies -- Guilford, Davidson, Lillian Plummer Financial and strategic allies (www.guilfordjoblink.com), a one-stop center (WIRED) grant will provide up to $5 million per year for three Randolph, and Forsyth; and with the Workforce The High Point Economic Development Corp. is a department of •the surrounding counties of Alamance, Caswell, Davie, for both job seekers and employers. Development Board years to develop a model national economic development city government, reporting directly to the city manager. Most of the Montgomery, Rockingham, Stokes, Surry, and Yadkin. demonstration project for the region. The Piedmont Triad HPEDC funding comes from the City of High Point budget, but a Partnership (Page 9) is administering the grant. significant percentage comes from two local partners. • The High Point Partners seeks to improve and assist economic City of High Point: Guilford Technical Community College development and educational efforts in our City. The group is Quality Workforce composed of more than 80 High Point “It’s labor quality we need. We look at cost, and we have to have www.gtcc.edu Guilford Technical Community College is business leaders. These business leaders availability. But we are looking first and foremost at labor quality. serving more than 36,600 students in the 2006- participate in the funding of the High In this particular instance, our sister company (Polo Ralph Lauren 2007 school year. The college was founded Point Economic Development Corp. and Corp.) … in High Point had great experience with labor in the in 1958 to give the people of Guilford County other endeavors. The group appoints six area… so we were comfortable with labor in High Point right out of and the Piedmont Triad region the training members to the HPEDC board of directors. the gate.” and education they need to compete in the Owen Bertschi, chairman of the High Point Partners, is in line to be the next chairman of --David Rush job market. the HPEDC board. Polo.com Don Cameron, In 2006, the college continued to work in • Guilford County government Owen Bertschi, chairman Local economic development partners November 16, 2006 GTCC president partnership with the High Point EDC. (www.co.guilford.nc.us) works closely with the of the High Point Partners To ensure close working relationships and open communication, • Don Cameron, GTCC president, is on the HPEDC. A county commissioner and the the High Point Economic Development Corp. has formal board of directors of the High Point EDC and serves as second county manager serve as liaisons to the HPEDC board. Rob Bencini, bonds with a range of organizations that contribute to the vice chairman. the Guilford County director of community and economic economic well-being of our City. Please see the list of liaisons •GTCC worked with new and existing High Point companies to train development, attends each HPEDC meeting and works closely with to the High Point EDC board of directors (Page 11). applicants and employees in the skill sets those businesses need. the HPEDC on projects.

8 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 9 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

High Point’s key companies Leadership Largest Employers High Point’s 20 largest employers collectively provide work for more than 17,700 Piedmont Triad residents. HPEDC Board of Directors These key employers reflect a diverse group of industry sectors Contributing to High Point’s recent success in economic development has been the leadership Ranking Company Nature of operation Total employees in High Point 1 of a host of business and governmental leaders, 1 High Point Regional Health System healthcare 1866 working in tandem. No better example exists than 2Guilford County Schools (employees assigned to High Point schools and offices) public education 1853 the board of directors of the High Point Economic 3 Bank of America finance / customer service 1800 Development Corp. 4 Thomas Built Buses (a division of Freightliner, a DaimlerChrysler company) bus manufacturing 1586 5 City of High Point local government 1420 The HPEDC has 19 voting directors: the mayor of 6 NCO Group customer service 1109 High Point; a city council member; the High Point 7Tyco Electronics electronics manufacturing / distribution 1000 city manager; the three most immediate past 8Polo Ralph Lauren distribution / customer service 920 chairmen of the HPEDC board of directors; five 9 Cornerstone Health Care healthcare 785 persons appointed by the High Point City Council; 10 Aetna insurance / customer service 700 six persons appointed by the High Point Partners; 11 Marsh Furniture Company cabinet manufacturing 696 and the chairman and chairman-elect of the High 12 Guilford County (employees assigned to the High Point courthouse and other offices) local government 521 Point Chamber of Commerce. 13 HDM Furniture Industries furniture manufacturing 491 14 Sears Product Services Marketing Center customer service 481 Non-voting members include the HPEDC president, 15 Advanced Home Care home health care products and services 467 liaisons from various economic development 16 Banner Pharmacaps pharmaceutical manufacturing 463 allied groups, and honorary positions. 17 Mannington Mills flooring manufacturing / distribution 417 (includes the Mannington Wood Floors and Mannington Laminate Floors divisions) 18 New Breed distribution services / supply chain management 410 19 North State Communications communications utility 380 EXECUTIVE COMMITTEE 20 Brayton International (a division of Steelcase) office furniture manufacturing 366 Chairman Jeff Miller, High Point Regional Health System

1 This listing reflects “full-time equivalent” numbers, as of December 31, 2006. Source: High Point Economic Development Corp. survey First Vice Chairman Owen Bertschi, Crescent Ford, Inc. Second Vice Chairman Largest Taxpayers Dr. Don Cameron, High Point’s 20 largest taxpayers are a key part of the local business community, reflecting many industry sectors. Fifth row(from left to right): Webb, Cameron, Faircloth, Fourth row: Lawton, D. Miller, Lowder, Gooden, Shankle, Guilford Technical Community College These companies pay 13.5% of all city property taxes. Their property is collectively valued at more than $1.1 billion, Clinard, Third row: McNeill, Price, Greene, Early, Boynton, Hill, Second row: Morgan, Bertschi, Vernon, Williard, Marsh, Tedder, Front row: J. Miller, Horney, Smothers Tr e a s urer / Secretary and they will pay $6.724 million in taxes to the City of High Point in the 2006-2007 fiscal year. Charles Cain, Banner Pharmacaps LIAISONS DIRECTORS Ranking Company Nature of operation Total valuation High Point Mayor 1 International Home Furnishings Center home furnishings showroom $182,030,139 High Point Market Authority President Doyle Early, Wyatt, Early, Harris & Wheeler, LLP The Honorable Rebecca Smothers 2 Merchandise Mart Properties, Inc. home furnishings showroom 140,011,950 Judy Mendenhall 1 1 Joanna Easter , Showplace High Point City Manager - Strib Boynton (combining Market Square, LLC; Market Square II, LLC; and National Furniture Mart) Brian Casey 2 Lowell Easter, Triad Commercial Realty 3 Liberty Property Trust real estate: office parks 124,708,418 President - Loren Hill 4 High Point Showplace Investors IV, LLC home furnishings showroom 72,330,454 Convention & Visitors Bureau Chairman The Honorable John Faircloth, Chris Greene 1 (combining Showplace, Showplace West, 200 N. Hamilton St., and 330 N. Hamilton St.) High Point Mayor Pro Tem, Coldwell Banker Triad PAST CHAIRMEN Lisa Shankle 2, Hamilton Properties 5Polo Ralph Lauren distribution / customer service 60,625,356 Demetrious Gooden, High Point Bank & Trust Bill Horney, 6 North State Communications communications utility 60,232,527 Guilford County Board of Commissioners Mary Lawton, Lawton Aviation Mirro-Products (chairman emeritus) 7 High Point Development Ltd. Partnership (parts of Oak Hollow Mall) real estate: retail operations 54,063,807 The Honorable Trudy Wade 1, Jim Morgan, Harvey Lowd, Kao Specialties Americas 8 Thomas Built Buses (a division of Freightliner, a DaimlerChrysler company) bus manufacturing 53,882,701 Jamestown Veterinary Hospital Morgan, Herring, Morgan, Green, Rosenblutt & 3 2 9 Mannington Mills flooring manufacturing / distribution 49,872,747 The Honorable Steve Arnold , Arcon Warren Lowder , Brayton International Gill Attorneys The Honorable John Parks 2, Price and Associates (includes Mannington Wood Floors and Mannington Laminate Floors divisions) Tom Mitchell 2, Merchandise Mart Properties Coy Williard, Williard-Stewart, Inc. 10 Tyco Electronics electronics manufacturing / distribution 46,825,850 Guilford County Manager Adnan Mjalli 2, TransTech Pharma 11 First State Investors 3500 LLC (the Bank of America facility on Piedmont Parkway) finance / customer service 42,428,500 Willie Best 1 HONORARY MEMBER Ruffin Price 2, Ruffin Price Insurance 12 Banner Pharmacaps pharmaceutical manufacturing 33,128,590 David McNeill 2 Jim Fain, Secretary of Commerce, 13 Kao Specialties Americas chemical manufacturing 27,708,797 Dean Sink 2, Mickey Truck Bodies State of North Carolina Guilford Technical Community College 14 Maple Leaf Holdings (the Palliser facilities) home furnishings showroom 27,120,100 Don Webb 1, Merrill Lynch 15 Piedmont Natural Gas natural gas utility 26,233,262 Board Chairman David Miller, D.S. Miller, Inc. James White 1, White Funding, Inc. 16 Crowne Lake Associates multi-family housing complex 25,910,463 1 17 BRC Majestic Apts., LLC multi-family housing complex 22,381,546 High Point University Vice President for Richard Wood , Wachovia Securities, LLC 18 Duke Energy Corp. electric utility 20,786,761 Community Relations - Chris Dudley HPEDC STAFF 19 Natuzzi Americas, LLC home furnishings showroom 17,948,469 Loren Hill, President High Point Downtown Improvement Committee Sandy Vernon, Senior Vice President 20 C. Wayne McDonald Contractor, Inc. real estate: industrial properties / 17,757,500 Chairman - Aaron Clinard, 1 This person’s service on the HPEDC board ended in 2006. Beverly Tedder, Research & Information home furnishings showrooms 2 This person’s service on the HPEDC board began during 2006. Fisher Clinard & Manger 3 Services Director Source: City of High Point Financial Services Dept. This person’s service on the HPEDC board both began and ended in 2006. Billie Marsh, Executive Assistant

10 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 11 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

10 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 11 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT , High Point is North Carolina s International City TM High Point’s industry clusters

In a world in which commerce is now global in nature, it can only foreign guests each year. Those visitors represent more than Companies are attracted to High Point and our Piedmont Triad region High Point’s clusters include these industry sectors: give High Point a business edge to be “North Carolina’s 110 countries. because of the vital industry clusters existing here today. International City.TM” •High Point’s portion of the region’s Foreign Trade Zone is Distribution /Logistics expanding (Page 7). High Point’s most well-known cluster is the furniture industry – with its •For 15 years, Polo Ralph Lauren has had its major U.S. distribution High Point deserves that motto since: •Mayor Becky Smothers and officials with both the High Point host of manufacturers, distributors, suppliers, and allied companies, center in High Point. • city government encourages foreign investment and works Economic Development Corp. and High Point Chamber of along with the incredible scope of the High Point Market. (See page 15) • Its sister company, Polo.com, announced a major facility in High Point in closely with our internationally-owned companies. Commerce routinely welcome and meet with foreign delegations. 2006 (Page 3). • approximately 70 internationally-owned companies have year- • fifty-two countries are represented by the student body of High According to the Urban and Regional Economic Development Dept. at • Dell recently opened a computer manufacturing facility in round facilities in High Point – giving High Point an impressive Point University. the University of North Carolina at Chapel Hill, an industry cluster is a Winston-Salem, just five miles from High Point’s city limits. 36% of all such foreign-based companies in our 12-county “geographical concentration of industries that gain performance The company’s move brings national attention to our area for companies also wanting to distribute their products easily Piedmont Triad region. It is no wonder that downtown High Point, the High Point EDC advantages through co-location.” •A horizontally-integrated cluster includes “industries which might to the majority of the U.S. population. • many more international companies show their products twice offices, the High Point Chamber lobby, and the High Point share a common market for the end products, use a common • New Breed, a distribution services and supply chain management company, each year at the High Point Market (see Page 15), which is the University campus have international flags proudly displayed to world’s largest home furnishings trade show. technology or labor force skills, or require similar natural resources.” has its national headquarters in High Point. Its largest clients include welcome and thank our many foreign visitors and investors. Siemens, the United States Postal Service, the U.S. Marine Corps, Boeing, • the High Point Market brings to town approximately 14,000 •A vertically-integrated cluster is made up of “industries that are linked through buyer-seller relationships.” and Verizon Wireless. Globally, New Breed occupies more than 40 facilities totaling five million sq. ft. 1 Internationally-based companies with High Point facilities High Point’s economy has impressively diversified over the last several years • Please also see the 2006 announcements on Page 15 and Page 19. with many new clusters. Those newer industry clusters have joined High Argentina France Netherlands Point’s traditional industries of furniture and textiles. Home Furnishings/Furniture-Related Anthem Leather Saint-Gobain Abrasives Akzo Nobel Coatings • Please see the High Point Market article on page 15. Arpel Leather Corporation Saint-Gobain Bayform Banner Pharmacaps Successful diversification was just what our business and government lead- • Please also see the 2006 announcements on Page 14 and Page 19. Hagemeyer North America Australia Germany ers had planned. High Point leaders with vision, from both the public and Cartridge World Adwood Corporation Poland private sectors, worked to put in place policies that led to Piedmont High Tech/ Biotech Bodet & Horst USA Zum Contract (Page 19) Centre’s creation – the state’s premier office / industrial park. Since that • The N.C. Nanotech Accelerator opened Austria DHL park was approved in 1987, Piedmont Centre has led the way in High in High Point in 2006. The accelerator was Fulterer USA Merz Pharmaceuticals (Page 19) Singapore Point’s dramatic transition. created by Dr. Reyad Sawafta of QuarTek, Schmidt America MWG Biotech IGA Global a High Point nanotech company that Having such a wide range of industry sectors: Belgium Senator Penn USA Spain opened in 2004. The accelerator’s • protects our community from a downturn in any one sector; Food Lion Stroheim & Romann (Page 19) Hurtado USA purpose is to help other nanotech TFL USA/Canada • provides a wide-range of job opportunities for High Point’s entrepreneurs get started in this Brazil Thomas Built Buses (a division of Sweden citizens; and growing industry cluster. By the end of Brazil Furniture Group Freightliner, a DaimlerChrysler Elmo Leather of America • lures other companies to locate in High Point to take advantage 2006, seven nanotech start-ups had or Duratex North America company) (Page 16) of the synergies a cluster can provide. were preparing to join the accelerator. Switzerland Renner Sayerlack USA • Please also see the 2006 announcements Ajilon Professional Services Woodline Millwork Italy City of High Point: on Page 16 and Page 19. Ciba Specialty Chemicals Dr. Reyad Sawafta Calligaris, USA The Right Image Canada CBT USA Herzog-Elmiger Décor-Rest Furniture “Since the infrastructure of the (furniture) industry is here, we Healthcare Cefla Finishing America (Page 19) United Kingdom • Please see the 2006 announcements on Page 17 and Page 19. General Woods & Veneers Group Chateau D'Ax USA felt we belong in High Point with the image it portrays with the GlobalTEC Adams Furniture Delmac Machinery Group Arthur Brett & Sons business we’re in.” Commercial Photography Hafner USA Ferrari America (Page 19) Vita Nonwovens – Joe Elmore • High Point’s well-known furniture industry led to the growth of Magnussen Home Furnishings Francesco Molon Master Design Furniture commercial photography here to advertise those furnishings. Morbern USA Freud USA High Point Enterprise, July 13, 2006 1 This listing includes companies with a year-round • There are eleven studios in High Point with more than 100,000 sq. ft. Ornamental Group Multi-Distributing Palliser Furniture presence in High Point. These companies represent of studio space each. Multimaster North America 19 nations -- on the continents of Asia, South America, RBC Liberty Insurance Services Corp. Natuzzi Americas Australia, Europe, and North America. Sklar-Peppler of Canada Nylstar Advanced Manufacturing • Please see the 2006 announcements on the chart on Page 2 and Chile Sangiorgio Furniture Industries on Page 19. American Woodcrafters Japan China Kao Specialties Americas (Page 19) Automotive-Related/Motorsports Syntec Fine Furniture Design and Marketing • Please see the 2006 announcements on Page 16. HomElegance Toyota Racing Development (Page 16) HIGH Legacy Classic Furniture (Page 15) YKK AP America (Page 19) Customer Service Lifestyle Enterprises (Page 14) POINT • Please see the 2006 announcements on Page 17 and Page 19. Master Design Furniture (Page 19) TM NORTH CAROLINA’S INTERNATIONAL CITY Universal Furniture Internationally-Based Companies • Please see the list of international companies on Page 12.

12 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 13 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

High Point is North Carolina s International City TM High Point’s industry clusters

12 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 13 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

Home Furnishings / Furniture-Related Distribution / Logistics

In High Point in 2006, 13 home furnishings / furniture-related companies La-Z-Boy Furniture moving divisional headquarters to High Point High Point Market is state’s largest In High Point in 2006, eight distribution / logistics companies had economic development announcements. had economic development announcements. www.la-z-boy.com economic event La-Z-Boy, Inc., one of the world’s leading residential furniture producers, www.highpointmarket.org Four of them are among the major projects of the year. Polo.com Six of them are among the major projects of 2006. Four companies are announced it will move its divisional headquarters to High Point. – High Point’s “Project of the Year” – is featured on Page 3; two described on this page; and two are on the “distribution / logistics” listing The relocation, expected to take place in September 2007, will move The High Point Market -- the largest, most well known, and most other companies are described on this page; and the FedEx / on Page 15. approximately 100 employees to a 28,000-sq. ft. facility at 4310 Regency important furnishings industry trade show in the world – pumps more than $1.14 billion into the city, regional, and state economies Piedmont Triad International Airport project is reported on Page 6. Dr. The divisional headquarters are currently in Greensboro. annually. Ashley Furniture creates 50 jobs The project will add $3.1 million to High Point’s tax base. The High Point That figure makes the twice-per-year Market the largest economic City Council authorized incentives of up to $600,000 for the project. www.ashleyfurniture.com development event in North Carolina. Russell Turner, a retail licensee of Ashley Furniture Industries, “La-Z-Boy returning its divisional offices to High Point is a opened a 60,000-sq. ft. distribution center at 4224 Tudor milestone for the City and also for the company,” says High Lane in July. Point City Manager Strib Boynton. The operation hired 50 employees and could eventually “For High Point, it has a positive long-term impact on our furniture expand by another 30,000 sq. ft. industry and on the High Point Market to have such a prominent company here. For La-Z-Boy, it makes them closer to all the allied The facility began serving Ashley retail stores in the Piedmont Lodging by Liberty / Brown Jordan furniture-related companies in our city and gives them an address Triad in August. Lodging by Liberty / Brown Jordan will create 53 new jobs in High Point, the Home Furnishings Capital of the WorldTM.” www.brownjordan.com Lodging by Liberty – a subsidiary of Brown Jordan International – will • Approximately 12 million sq. ft. of showroom space is used move its divisional headquarters / manufacturing operations to 4200 by 2,600 exhibitors, in 188 separate buildings. Tudor Lane. The division makes furniture for the hospitality industry. • An average of 170,000 persons attend Market each year: manufacturers, exhibitors, retail buyers, sales representatives, The company will invest more than $3 million in machinery, interior designers, architects, exhibitor support personnel, equipment, and building enhancements; create 53 new jobs; suppliers, and news media. and move additional jobs from an existing operation in • Approximately 14,000 foreign visitors, from 110 countries, attend Randolph County to this High Point facility. Market annually. • 13,000 jobs are attributed to Market’s existence. The High Point City Council authorized up to $50,000 in incentives Legacy Classic Furniture’s under-construction distribution center / for the project. The State of North Carolina made a $135,000 The High Point Market Authority has taken the leadership role in corporate office facility One North Carolina Grant, and the Guilford County Board of improving and expanding Market as a world-class show. The Commissioners authorized up to $114,000. Authority was formed in 2001 due to the efforts of the City of High Point Legacy Classic Furniture builds major facility www.legacyclassic.com Brown Jordan is a well-known, highly-regarded designer, manufac- and its business leaders to create a Lifestyle Enterprises In 2006, Legacy Classic Furniture, a Chinese company, began con- turer and marketer of fine furnishings and accessories to residential sponsor for the 98-year-old Market. structing a 347,000-sq. ft. distribution center / corporate office facility and commercial customers worldwide. Lifestyle Enterprises making $11.655 million investment Brian Casey became president of the at 2575 Penny Rd. in the Premier Center office park. www.lifestyle-datong.com authority in 2006, replacing Judy Future Foam will expand, adding 12 jobs Lifestyle Enterprises – the largest importer of Asian home furnishings – Mendenhall (who is a former High Robin Team, of Carolina Investment Properties, is the developer. www.futurefoam.com is planning to expand again in High Point. Point mayor). Casey is a liaison to the Future Foam North Carolina is expanding its foam manufacturing facility High Point EDC board of directors. Legacy will invest more than $18 million in the project. The at 1300 Prospect St. At this facility, raw materials are converted The company will construct a combined furniture showroom / office company will move 120 positions to the High Point facility from into flexible polyurethane foam for use in furniture cushions, building. The company will be investing more than $10 million in the eastern Guilford County and will hire additional employees as mattresses, and other applications for home and industry. new building. Brian Casey, new president of the facility continues to expand. the High Point Market Authority The company is making a $3.8 million capital investment with its 24,000- The company’s owner is William Hsieh, who has been a part of the High The High Point City Council authorized incentives of up to sq. ft. addition to the existing 336,000-sq. ft. facility. As part of Point Market for 26 years. His company now has a distribution center at $305,000 for the project. the expansion, 12 jobs will be created, adding to Future Foam’s 529 Townsend Ave. and its Forbidden City Museum showroom – which current workforce of 105. looks like the real Forbidden City in Beijing -- at 320 E. Commerce Ave. Samson Holding is the Hong Kong-based parent company for Legacy Classic Furniture, Universal Furniture, and Lacquer Craft. The High Point City Council authorized economic development For this project, Lifestyle bought city property in the 300 block of E. In 2002, Universal opened a 342,000-sq. ft.distribution center incentives for the expansion, in an amount up to $90,440. Green Dr. – land that is adjacent to both the current Forbidden City within a short distance from the new Legacy facility. showroom and the High Point Municipal Building. The High Point City Council voted unanimously to sell the land to Lifestyle at the fair market value of $1,655,000.

14 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 15 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

Home Furnishings / Furniture-Related Distribution / Logistics

14 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 15 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

High Tech / Biotech Automotive-Related / Motorsports Healthcare Customer Service

In High Point in 2006, six high tech companies had economic In High Point in 2006, two automotive-related / motorsports In High Point in 2006, four healthcare organizations had economic In High Point in 2006, two customer service companies had development announcements. Two of them are among the companies had economic development announcements. development announcements. Two, described below, are among economic development announcements, which are among the major projects of 2006 and are described on this page. the major projects of 2006. major projects of 2006. NASCAR’s Bill Davis Racing adding 50 employees TriQuint Semiconductor opens design / R&D center www.billdavisracing.com Cornerstone Health Care adds 129 jobs www.triquint.com Bill Davis Racing, which has enjoyed 20 successful years in NASCAR, www.cornerstonehealth.com TriQuint Semiconductor opened a design / research and develop- is adding 50 employees to its workforce – largely due to its close Cornerstone Health Care added 129 jobs in 2006. The job growth ment center at 4050 Piedmont Parkway, a building owned by Liberty and growing ties with Toyota. brings its workforce to 785, making it High Point’s ninth largest Property Trust. employer. The company is becoming a bigger part of the Toyota racing team, The company will invest approximately $1.8 million in the upfit of as it enters the Nextel Cup series in 2007. The organization also announced the purchase of 15 acres of the facility over a four-year period. It will also hire 25 employees in land on Westchester Dr. to build a 75,000-sq. ft. outpatient that same time frame, with the average wage being in the $85,000- BDR, located at 300 Old Thomasville Rd., has 170,000 sq. ft. of space. medical facility and a joint project on Premier Dr. with High Bank of America 100,000 range. Point Regional Health System. Toyota is close to Bill Davis Racing geographically, in addition to Bank of America creates 250 new jobs The High Point City Council authorized up to $25,000 in financial professionally. In 2004, Toyota Racing Development opened a Cornerstone Health Care was formed in 1995 when a group of www.bankofamerica.com incentives for the project. 6,800-sq. ft. building at 1826 Albertson Rd., leasing the facility members of the High Point medical community joined together Bank of America added 250 jobs to its workforce in 2006. That from the adjacent Bill Davis Racing organization. in an integrated multi-specialty group practice. The organization increase brings the job count for the company in High Point – TriQuint was founded in 1985. It supplies components for the now has more than 100 providers, 35 separate practices, and a at the 4161 Piedmont Parkway facility and the various branch military and for communications companies. Bill Davis Racing’s NEXTEL Cup teams’ shop and Craftsman Truck wide range of ancillary services. banks – to 1,800 full-time equivalent employees. teams’ shop are open for public tours. Bank of America is thus the third largest employer in High Point. Thomas Built Buses begins $10.3 million remodeling www.thomasbus.com In 2006, Bank of America also received permits from the City of Thomas Built Buses -- a division of Freightliner, which is a Daimler- High Point for $1.2 million in upgrades and renovations. Chrysler company -- began a $10.3 million renovation to its 1408 Courtesy Rd. plant. The remodeling and upgrade will be completed First State Investors 3500, the company that owns the Piedmont in January 2008. Parkway building of Bank of America, is High Point’s 11th largest Tyco Electronics taxpayer. The 90-year-old High Point company manufactures a variety of bus Tyco Electronics adds 66 jobs, expanding building products -- conventional school buses, commercial transit-style NCO Group adds 115 jobs www.tyco.com buses, small activity buses, and specialty vehicles. Each year, it pro- www.ncogroup.com Tyco Electronics added 66 jobs to its High Point workforce in 2006. High Point Regional Health System duces approximately 15,000 units. NCO Group – which acquired RMH Teleservices in 2005 – High Point Regional Health System continues to expand added 115 employees to its High Point workforce in 2006. In addition, the company is expanding its 202,000-sq. ft. manufactur- It is the leading manufacturer of school buses in North America, www.highpointregional.com That increase makes the company High Point’s sixth largest ing plant at 8010 Piedmont Triad Parkway. Plating operations will be with more than one-third of the market. High Point Regional Health System – a private, not-for-profit employer with a staff of 1,109. added to the High Point facility due to this $4 million expansion. hospital and healthcare system – continues to grow. Jobs will be moved to the facility from a plant in Winston-Salem once Company President John O’Leary says, “This investment will allow NCO provides clients with business process outsourcing the expansion is completed. Thomas Built to significantly improve logistics and worker ergonomics In 2006, High Point Regional: solutions such as customer management services, back office and to optimize production line lay- • added the equivalent of 44 full-time jobs, remaining High services, and accounts receivable management. In High Point, Tyco has 1,000 employees at its two High Point locations, outs” which will result in a “higher Point’s largest employer with 1,866 full-time equivalent jobs; NCO operates a large call center at 4336 Federal Dr. making it the City’s seventh largest employer. quality product for our customers, a • announced the construction of a new medical office building on safer workplace for our employees, Premier Dr. in partnership with Cornerstone Health Care; and and a more efficient plant in a highly • filed for permits from the City of High Point for $3.4 million in competitive industry.” upfitting and renovation projects.

More than 60 percent of the The largest component of the health renovation budget will funnel system is High Point Regional directly into the local economy Hospital, a 384-bed medical and through purchased materials, Thomas Built Buses surgical facility at 601 N. Elm St. contracted labor and taxes. President Jeff Miller is the chairman In 2002, the company constructed a $40 million state-of-the-art of the High Point Economic plant on Fairfield Rd. Development Corp. Board of Directors.

Jeff Miller

16 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 17 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

High Tech / Biotech Automotive-Related / Motorsports Healthcare Customer Service

Jeff Miller

16 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 17 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

Retail / Service Educational / Institutional Additional 2006 projects and announcements

In High Point in 2006, 11 retail / service companies had economic In High Point in 2006, five educational/ institutional organizations High Point’s success in 2006 depended on many companies Home Furnishings / Furniture-Related development announcements. Two of them are among the major had economic development announcements. Three of them are expanding or opening in High Point. • Zum Contract, a Polish-owned maker of contract furniture for projects of 2006. among the major projects of 2006. the hospitality industry, opened on English Rd. with 20 employees. Manufacturing • Art & Frame Direct, a marketer of antique reproductions and Vann York Toyota building new facility, adding 15 employees High Point University means $290 million to local economy • E. Greene & Company hired 10 employees as it opened decorative accessories, will expand into a new home furnishings www.vannyorkauto.com www.highpoint.edu operations at 1407 Danmar Ave. The company manufactures showroom on N. Hamilton at Kivett Dr. The Vann York Automotive Group is constructing a 39,600-sq. ft. "There is no question that High Point University is a very important eco- specialized items predominantly for the banking industry. • French Heritage, a maker of fine furniture, will be moving its dealership and service center on Eastchester Dr. The building nomic engine," says High Point Mayor Becky Smothers. "With 11 build- • Huntsman Corp. bought the textile effects division of Ciba distribution / warehouse facility to 730 Taylor Ave. will house the company’s Toyota dealership, which is currently ings under construction and 13 structures being renovated, our city, the Specialty Chemicals and began operations with 90 former Ciba • Master Design Furniture has relocated its corporate headquarters on S. Main St. The $4.4 million building should be open by June region and the state have been the beneficiaries.” employees on Premier Dr. to E. Lexington Ave. and opened a new showroom. 2007. As many as 15 new employees will be hired at the new • Beeson Hardware, 2210 Getty Pl., added four jobs, and • Ferrari America, added two jobs at its 4189 Eagle Hill Dr. hardware / location – adding to its current workforce of 50. That expansion is a major part of the five-year, $100 million investment purchased the manufacturing facility formerly occupied by hinges facility. plan of HPU President Nido Qubein. Claude Gable for its Decorative Hardware and Plumbing division. • Gotico Furniture & Accents opened at 2400 Shore St. with eight High Point-based Kirkland, Inc., is building the facility. • KAO Specialties America, at 243 Woodbine St., added 18 jobs. employees. The university has projected that its economic impact on the regional • Dairy Fresh – a division of Dean Foods – opened a facility at • Kemp Enterprises, 212 S. Pendlenton St., moved its Wal-Mart Supercenter to open in southern High Point economy (Guilford, Davidson, Randolph, and Forsyth counties -- the 1350 W. Fairfield Rd. with 30 employees. headquarters to High Point and created 18 jobs. www.walmart.com four counties in which High Point lies) will be more than $290 million in • K&S Tool & Manufacturing, a contract metal fabrication and Retail / Service High Pointers Maurice Hull and Coy Williard of Marketplace Partners the 2006-2007 school year. assembly company, added four jobs, built a 3,000-sq. ft. • Graphic Printing Services invested a half million dollars in new landed a major project in 2006. expansion, and added $400,000 in capital equipment at its 1249 equipment at its 4301 Waterleaf Ct. location. The company also Elon Pl. location. acquired a nearby company and will shift its 10 employees to They sold land to Wal-Mart Stores, Inc., for a new Wal-Mart High Point. Supercenter. That retail store should open in the middle of 2007. High Tech / Biotech • Worldwide Insurance Network / U.S.A. Smartchoice added • TransTech Pharma added 10 research five jobs in 2006 and began construction of an addition at its The 25-acre site is bounded by S. Main St. and W. Fairfield Rd. scientist jobs at its 4170 Mendenhall 4121 Beechwood Dr. location. Oaks Parkway facility. • Carolina Bank built a new branch at 4010 Brian Jordan Pl. To assist in the deal, the High Point City Council voted to sell a small • Its sister biotech company, Pharmacore, Seven new jobs were created. tract of land to Marketplace Partners from the adjacent city electric added 12 jobs -- 10 Ph.D.-level • Protection Systems Inc., 107 W. Peachtree Dr., added three jobs. substation property. chemists, one warehouse manager, and • Madsen Interior Design moved its design studio to a larger one accounting staffer. The company, at facility at 3931 Tinsley Dr., Suite 103. Marketplace Partners constructed an 11,000-sq. ft. retail building 4180 Mendenhall Oaks Parkway, Suite • Hire Dynamics, at 3931 Tinsley Dr., created two new positions. adjacent to the new Wal-Mart site and plan to build an additional 160, also expanded into 5,000 sq. ft. of • Triad Lighting created three jobs at 1923 N. Main St. 36,000 sq. ft. nearby. adjacent space. • The American Red Cross opened a disaster relief distribution • PhazeTek, formed from a partnership Dr. Adnan Mjalli center at 4524 Green Point Dr. “It’s a strong event for us because it validates south High Point Receiving the key to the city (from left to right): of High Point’s QuarTek Corp. and of TransTech Pharma has the buying power to support this significant investment,” High Point University President Nido Qubein, Mayor Becky Smothers and another nanotech company in the Healthcare Queen Noor of Jordan, the 2006 HPU graduation speaker says High Point Mayor Becky Smothers. region, opened on Piedmont Parkway. The company specializes • Advanced Home Care added 17 jobs at its Piedmont Parkway facility. in using "phase change technology" to make more efficient River Landing at Sandy Ridge growing • Hospice of the Piedmont expanded its facilities at 1803 Williard is the immediate past batteries and improve manufacturing techniques. Westchester Dr. The organization added 29 new staffers in 2006 chairman of the High Point www.riverlandingsr.org River Landing at Sandy Ridge, a continuing care retirement community, • Merz Pharmaceuticals announced that it will be adding 10 jobs and will add at least 12 more in 2007. Economic Development Corp. in 2007 in drug development at its 4215 Tudor Lane location. is adding 50 apartments and 25 cottages. The expansion will cost $18 Board of Directors. Educational / Institutional million. The community opened in 2003 on a 153-acre site at 1575 John • Phoenix Academy, on Meeting Way, added nine jobs in 2006. Knox Dr. The $60 million original project included residences, assisted Distribution / Logistics • Wesleyan Christian Academy, 1917 N. Centennial St., made a living units, a skill nursing center, and a nine-hole golf course. • Mannington Laminate Floors, on 210 N. Pendleton St., added 15 production positions. $1.2 million, 12,900-sq. ft. addition of science labs and • Stroheim & Romann opened a distribution center at 4198 Eagle classrooms. Pennybyrn at Maryfield finishing $90 million expansion Hill Dr. The upscale fabric company will employ about 40 people www.pennybyrnatmaryfield.com at the facility. BACK COVER PHOTO ACKNOWLEDGEMENTS Pennybyrn at Maryfield, a continuing care retirement community, • Next door, Simpson Strong-Tie opened a distribution center (from left to right, from top to bottom) began construction in 2006 on its $90 million expansion. When with 10 employees. The company manufactures structural the 450,000 sq. ft. of new facilities opens in 2007, Pennybyrn • Karen Leonard, N.C. Employment Security Comm. connectors. • Nido Qubein, High Point Univ. (past HPEDC chairman) • Coy Williard of Williard Stewart expects to add 118 new jobs. As a result of the expansion, the • Cefla Finishing America , which distributes automated finishing • Jeff Miller, High Point Regional Health System (High Point EDC immediate past chairman) facility will grow to more than 400 residents. The community is • Council members Michael Pugh, Chris Whitley, Coy Williard equipment, added 10 jobs at its 729 Gallimore Dairy Rd. facility. (HPEDC chairman of the board) located at 1315 Greensboro Rd. •Warren Weber, City’s building maintenance dept. Lisa Stahlmann, Ron Wilkins, Latimer Alexander, • YKK AP America added two jobs at its facility at 4180 • Chairwoman Carolyn Coleman, Guilford County Bill Bencini, Bernita Sims, Mendenhall Oaks Parkway, Suite 160. Bd. of Commissioners Mayor Becky Smothers, and John Faircloth • Sydcor, an outsource materials / service logistics provider, • Jim Morgan of Morgan Herring and Bill Horney • Alice Moore, City’s public information dept. (chair of the High Point Area Arts Council) opened at 2315 E. Kivett Dr. of Mirro Products (High Point EDC past chairmen)

18 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 19 T HE K EYS TO THE C ITY OF H IGH P OINT T HE K EYS TO THE C ITY OF H IGH P OINT

Retail / Service Educational / Institutional Additional 2006 projects and announcements

18 2006 ANNUAL REPORT H IGH P OINT E CONOMIC D EVELOPMENT C ORPORATION 19 2006 ANNUAL REPORT High Point Economic Development Corporation

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