Tag: finance
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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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Move to Kingsport – January 2025
The Move To Kingsport program was one of several initiatives launched following the 1999 Economic Summit. It was among five non-traditional economic strategies designed to help the city navigate significant downsizing in domestic manufacturing, a sector crucial to Kingsport’s industrial heritage. The other four strategies focused on higher education (notably a downtown campus), tourism (including…
Kingsport Spirit 