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Kingsport - Johnson City - Bristol The Tri-Cities area
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Old 09-28-2015, 10:50 AM
 
Location: Seattle
6,514 posts, read 14,756,112 times
Reputation: 2841

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I think so many people knew that downtown would blaze once a little tinder was put under it. Seems like these flood mitigation projects really have made a huge impact on the downtown area, and hopefully on the local economy.
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Old 10-07-2015, 12:28 PM
 
Location: Johnson City, TN
667 posts, read 821,229 times
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Committee gives initial OK to incentives for downtown developer

Another great article on the progress of downtown and the incredible impact Joe Baker's work is having and will continue to have. I'm super excited about having an Orange Peel-esque music venue downtown!

There are also some encouraging words on the future of the Model Mill.
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Old 10-20-2015, 09:09 PM
 
Location: Johnson City, TN
667 posts, read 821,229 times
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Costco coming to the Tri-Cities? | WJHL

While this isn't much more than speculation, it is good news that the long-anticipated Boones Creek development might finally get off the ground. The exit will need to be reworked and I really wish this development was occurring closer to the city's core but it is what it is. If this happens it will only further solidify Johnson City's standing as the retail capital of the Tri-Cities.
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Old 10-21-2015, 06:32 AM
 
Location: Gray, TN
2,157 posts, read 3,950,735 times
Reputation: 906
They killed your link, here's the new one: Costco coming to the Tri-Cities? | WJHL
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Old 10-21-2015, 10:13 AM
 
Location: Kingsport
182 posts, read 213,799 times
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And here a link to the denial of any knowledge about cosco from the head of the economic development council. Johnson City Press: Economic development chief not aware of Costco agreement in Boones Creek

I've been told the Cosco team visited the Tri-Cities for an intensive look at the area and turned it down due to the placement of Sam's Clubs and Super Walmarts. And, from a pragmatic position although retail sales are up from the depths of the recession when the pre-recession numbers are adjusted for inflation and compared to the current numbers it looks like the area is about 9% behind the inflation curve. It's also troubling that area leaders keep pushing to expand retail inventory with there is a considerable amount of empty inventory. Simply put, we already seem to have more capacity than demand. Of course there is demand in that merchants seek to move from one area to another to better their position and the technological capabilities of their buildings. Still that doesn't negate the fact that the area has empty retail inventory.
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Old 10-21-2015, 11:45 AM
 
Location: Johnson City, TN
667 posts, read 821,229 times
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The denial is no surprise. Economic development folks like to keep things under wraps in the preliminary stages. It is also possible that Costco talked directly to someone at the state level regarding the possibility of improving the Boones Creek interchange. The land in question is in a TIF district making it attractive for future development.

I agree that the area is just about built out when it comes to low-end and mid-level retail but there is a significant lack of higher-end retail in the region and there is the population to support it. For example the median family incomes of Johnson City and Greenville, SC are practically equal. Even when factoring in Bristol and Kingsport's income and comparing the overall area to the Greenville-Spartanburg area the income numbers are competitive. You will find, though, that the Greenville-Spartanburg metro has much more in the way of high-end retail.

Finally, you might be surprised at how much behind the scenes work there is from large employers in the Tri-Cities in the retail recruitment sector. Industries such as Eastman, MSHA/Wellmont, and even ETSU recognize that retail options can be a major recruiting tool in the quality of life sector. These places search nationwide, and sometimes internationally, for talent and area amenities can be a significant factor in that person taking the job.
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Old 10-22-2015, 11:57 AM
 
240 posts, read 575,751 times
Reputation: 188
Quote:
Originally Posted by Page2 View Post
And here a link to the denial of any knowledge about cosco from the head of the economic development council. Johnson City Press: Economic development chief not aware of Costco agreement in Boones Creek

I've been told the Cosco team visited the Tri-Cities for an intensive look at the area and turned it down due to the placement of Sam's Clubs and Super Walmarts.
i'd guess it's mostly median income combined with population density. Costco is a lot more upscale than Sam's Club. Where I live in some locations there's a Costco very close to a Super Wal-Mart and a short hop from a Sam's. The closest Costco to me is literally just across the street from a Wal-Mart Supercenter. Kinda like Lowe's & Home Depot, I often see them very close to each other. All about the demographics they're targeting.
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Old 10-22-2015, 12:58 PM
 
Location: Gate City, VA
294 posts, read 262,348 times
Reputation: 186
I'd love to see a Costco in this area but I don't see it happening. For one yes this area is too dominated by Walmart for Costco's taste. We have six super centers in the metro area and the surrounding cities even more than that. There are 18 Walmart's in this area within a 50 mile radius of me! Then you have two Sam's Club in the area. Another Walmart is being planned for Abingdon and a third Walmart opens in Kingsport next month, an Neighborhood Market store located in the Lynn Garden area. I've heard rumors that Walmart is considering a Neighborhood Market location to be added in Gray, TN as well but nothing confirmed. So Walmart isn't even done with this area! Look for more Neighborhood Market stores to open in the next few years in the Tri-Cities.

Second Costco prefers larger areas and areas with higher income, we are a bit too rural and spread out for their market stats. Also we just don't have the income levels that Costco likes either, they cater to a higher income bracket than what we have around here. I really doubt we'll ever get any high end retail here we don't have the demand nor income in the area to support it.
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Old 10-22-2015, 01:24 PM
 
Location: Seattle
6,514 posts, read 14,756,112 times
Reputation: 2841
I don't think domination by Walmart is any type of factor in a decision by Costco. If they decide to locate in the Tri-Cities, it will be because of sufficient population of a specific income threshold. Companies like Costco dominate the field by competing for dollars, not by shying away from markets where their competition has already developed.
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Old 10-22-2015, 01:33 PM
 
Location: Gate City, VA
294 posts, read 262,348 times
Reputation: 186
Quote:
Originally Posted by jabogitlu View Post
I don't think domination by Walmart is any type of factor in a decision by Costco. If they decide to locate in the Tri-Cities, it will be because of sufficient population of a specific income threshold. Companies like Costco dominate the field by competing for dollars, not by shying away from markets where their competition has already developed.
Costco actually doesn't like to come to heavily dominated Walmart areas but I think that's due to metrics more than anything. As I said we just don't have the income levels, population stats, or even demand to support a Costco. I am pretty sure that's how they see the area too. As I said I'd love to see one here but I just don't think it will happen.
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