Tag: economics
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Where $100 Still Goes A Long Way
A recently published map from the Tax Foundation illustrates a reality many Kingsport residents intuitively understand but rarely see quantified so clearly: the real value of a dollar varies dramatically across the country—and Kingsport sits firmly on the favorable side of that divide. Adjusted for regional purchasing power, $100 stretches meaningfully farther in much of…
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Income vs. Wealth: Understanding Kingsport’s Retiree-Driven Metrics
Public discussion about Kingsport’s economy often leans on a single familiar figure: median household income. It is simple, understandable, and widely used. Yet in Kingsport’s case, it can also be one of the most misleading indicators of our true economic condition. Many of Kingsport’s major job sectors—manufacturing, health care, finance, and professional services—offer median wages…
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Kingsport’s Wage Gains in Context: When Paychecks Stretch Further
In assessing local prosperity, it’s tempting to focus on headline wage figures: “Knoxville pays $31 per hour,” or “Johnson City surged to $30.” But for Kingsport—a city long celebrated for its measured growth and community spirit—the real story lies in how those paychecks go further against local costs. By blending respectable nominal wage gains with…
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At The End of The Day, People Vote with Their Feet
I’ve come to realize that many states are trying to replicate what we have in Tennessee—no income tax, no personal property tax, and no inheritance or estate tax. At last count 15 states are trying, but it’s easier said than done because they’ve become accustomed to that revenue stream and rarely want to cut costs.…
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Unlocking Economic Growth: New Housing’s Impact on Sales Tax Revenue
I was recently asked about the fiscal impact of a typical housing development on Kingsport’s sales tax revenue. Let’s consider a recent development with 77 single-family homes and 16 condos, totaling 93 units. Assuming a median price of $350,000 per home, a buyer would need an income of approximately $80,628 to afford this with a…
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GDP Reflects the Economic Strength of Tri-Cities
Gross Domestic Product (GDP) is a key measure of a local economy’s health, representing the total value of goods and services produced within a specific area. It provides insight into economic growth, business activity, and overall financial well-being. While the Census tracks population and demographics, GDP serves as a measure of economic output and business…
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Catalyzing Kingsport: Strategic Responses to Demographic Shifts
Reflecting on the past year prompts us to delve into the underlying rationale behind the inception of the Move To Kingsport program, which began 24 years ago, predating the seismic shifts caused by the pandemic-driven “Great Relocation”. It was a proactive response by community leaders who foresaw our region grappling with a recurring issue seen…
Kingsport Spirit 