The City of High Point lost a lot of economic mojo decades ago when much of the furniture and textile industry moved overseas; however, over the past two decades, the city has had something of an extraordinary run of success recruiting businesses and expanding the ones that are already there.

That string of wins is about to continue with two additional projects either opening shop or expanding in High Point.

 Before that happens, there’s only the formality of public hearings at the High Point City Council meetings on Monday, July 15 after which the City Council will grant the companies economic incentives.

The High Point City Council has given notice that not one, but two public hearings will be held at the July 15 council meeting, which will start at 5:30 p.m. in the Council Chambers in the High Point Municipal Building.

The purpose of the hearing is to receive public input on a funding request for incentives from the city; however, by the time a deal gets to this point in the process, it’s basically a done deal.

One unnamed company proposes to locate and expand at 2103 Brentwood Street in High Point and invest $6.3 million into “new real and personal property.”

 That project is expected to create 108 new jobs after the High Point City Council approves incentives of $100,000.

The money for the incentives will come from the city’s Economic Development Incentive Fund, which is funded by general and electric revenues.

However, that’s not the only business growth that will be aided by city incentives on July 15.

The council will also hear public input on a funding request from another company proposing to locate and expand at 1806 Wade Place in High Point.

That also unnamed company will invest $700,000 in new real and personal property for its project, which is expected to bring 66 new jobs to High Point.

In that case, the High Point City Council will grant incentives of $37,126. The source of funding for that incentives package will also be the Economic Development Incentive Fund.

High Point will provide the money after the companies’ investments in real and personal property are made. The agreement between the city and the businesses receiving incentives packages includes benchmarks and a schedule for payment.

While these projects aren’t on the same scale as the Toyota Battery Plant or Boom Supersonic successes for the region, these mid-sized expansions, and others like it – and the creation of new jobs that come with them – play an important role in High Point’s economic development strategy.

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