The city of Kingsport is pushing to maintain and balance the growth they’ve seen over the past 6 years.
Over the past few months, the city has partnered with a company called The Retail Coach, a national consulting firm that helps places like Kingsport create plans for continued economic development, specifically through retail.
They’ve helped attract major retailers to communities nationwide and Kingsport might be next.
City Manager Chris McCartt says Kingsport has stayed in constant communication with the firm, even making a trip to Las Vegas for a retailer convention.
“This one singular event has led to many opportunities and hopefully the opportunity for these businesses to call Kingsport home one day,” McCartt said.
McCartt said an influx of new business like major retailers that they’ve spoken with, bring region-wide benefits.
“We often see an increase in property tax, often an increase in sales tax, we are seeing dollars that may have been spent elsewhere that we are not able to see the benefit of at the local level, be retained,” he said.
McCartt said this goes back to help city schools, county schools and more.
“We see that as a revenue source to go back in the infrastructure and other things that will support and attract other businesses to want to locate here or for existing businesses to be able to expand and continue to thrive,” he said.
Kyle Cofer is the project director for the partnership with The Retail Coach.
He says they focus on five different sectors under retail recruitment: restaurants, soft goods clothing, hospitality, family entertainment and grocery.
Cofer says the group has crafted an extensive retail market analysis looking at a variety of factors with one number really sticking out – the potential to reach more than 160,000 people, according to the “retail trade area.”
“Recruitment is not an overnight process. Working with these national brands it’s an 18-to-24-month process typically,” Cofer said. “We have a lot of interest in this market it’s just continue to push and facilitate and stay on top of things to keep Kingsport at the top of the selector list.”
City officials couldn’t say exactly what retail companies are vying for setting up shop in Kingsport but they did say there are several that believe the city could be a good home.
