Kingsport Opportunity Zones
Zone Map
About Opportunity Zones
Opportunity Zones are a new community development tool established by Congress in the Tax Cuts and Jobs Act of 2017. This new tool is designed to drive long-term capital to low-income communities. The new law provides a federal tax incentive for investors to re-invest their capital gains into Opportunity Funds, which are specialized vehicles dedicated to investing in designated low-income areas.
Kingsport has two opportunity zones. One is in Sullivan County, covering a large portion of the downtown region. The second is in Hawkins County, and roughly half the size.
Kingsport
Kingsport has a tradition of working together for a common cause. With our many achievements, Kingsport can be proud that it's a professional organization, diligent in planning and implementation.
The city has grown organically in the last few years, which speaks to our thriving housing market. Both Boomers and Millennials like downtown living as well as revitalizing older neighborhoods with character, and Kingsport has both.
Our sales tax stability is a significant advantage when planning the future. For FY19, the city came in nearly $1M below budget and revenues remain strong.
We hope citizens have confidence in the decision-making ability of city staff through our protocols and consistent financial accolades.
By the Numbers
Kinsgsport-Bristol TN/VA MSA has a population over 300,000.
Public investment in Downtown Kingsport of ove $14.3 million and total investment of $32 million since 2014.
263 new unites of high-end urban style apartment unites under construction with in-demand lesases.
By the Assets
Large employer base in Healthcare Inudstry and Manufacturing with several of our largest employers locatied in the heart of the Opportunity Zones.
Home to the Harvard Award winning Kingsport Center for Higher Education, the Center offer courses towards associate up to doctoral degrees through a unique partnership with five local colleges and universities.
Location of the Fortune 300 globa headquarters of Eastman Chemical Company.
By the Opportunity Zones
Zones include the downtown heart of the City and supports its continued renaissance as a hub for small business, residents, nightlife and retail trades.
Zones include areas where significant pulic funding continues to spur private investment.
Zones include “shovel ready” projects that can take advantage of opportunity zone funds.