GREENSBORO -- The Greensboro-based Internet marketing company Market America is holding its annual convention at the Coliseum, and officials are touting the economic impact of the three-day event on the Gate City.

The company's 16th annual convention got under way with plenty of glitz and pyrotechnics.

It's an event the city said has delivered an economic impact of more than $20 million in years past.

Marc Ashley, Market America's chief operating officer, said he couldn't be prouder.

"The statistics come directly from the city and we're excited about that, obviously," Ashley said.

Ashley said businesses across the Gate City are benefiting.

"The great thing about our people is when they come to Greensboro, they stay in Greensboro, they eat in Greensboro, they shop in Greensboro and they are at the hotels," Ashley said. "They don't leave the city. So, I think that's what's created the economic impact."

Many of those attending the convention have come from far away and Ashley said they'll spend lots of money.

"I'll spend money at restaurants, shopping, just going sightseeing around the museums and stuff," said Fan Chen, who traveled to the convention from New York City.

"Hotel, food and for some fun," echoed Peter Zhao, who flew to Greensboro from mainland China.

Market America started operations in a two-bedroom home in Greensboro in 1992.

It now boasts a grouping of more than 50 million products on its Web site and a new partnership with Internet giant Google.

Ashley said the company employs more than 500 people at its Greensboro headquarters and that its worldwide sales topped $400 million in 2007.

While Market America's reach extends to countries as far away as China and Australia, Ashley said the Gate City will always be home.

"This isn't just people in North Carolina," said Ashley. "This is people in all 50 states and people are coming from Taiwan, Hong Kong, Australia and Canada. It's like they're coming back home again."