BRISTOL, TN / AGILITYPR.NEWS / November 10, 2021 / The Pinnacle Has Generated Nearly $1 Billion In Sales Since Inception

Consumers are loving the shopping, dining, and entertainment options at The Pinnacle retail complex this year according to the latest numbers. Sales taxes benefiting Sullivan County, Kingsport, and the City of Bristol, TN, were up 28.8%, setting an all-time high for the regional retail complex. Traffic statistics indicate more than 6.4 million shopper visits to The Pinnacle, another all-time high.

The latest figures compiled from retailers at the complex show more than $200 million in sales between fiscal year July 1, 2020, through June 30, 2021. Those sales equate to more than $14 million in sales tax dollars generated by The Pinnacle.

“I give credit for the success of The Pinnacle to the support of the five-state area that we serve,” say developer Steve Johnson. “We are having record sales and traffic here that directly helps our local governments in sales tax revenue and employment that benefits an even broader market.”

Growth in the retail offerings at The Pinnacle means there is always something new at the growing complex. New venues, such as a new Buddy’s BBQ, Chicken Salad Chick, Five Guys, and a Saladworks continue to draw new customers. In all, 71 establishments are part of the complex with the region’s first Walk-Ons Sports Bistreaux, and a Tommy’s Express Car Wash currently under construction at The Pinnacle.

The retailers at the complex employ more than 2,000 workers from across the region benefiting almost every community in Northeast Tennessee and Southwest Virginia.

Since its inception with the opening of Bass Pro Shop in 2014, records show nearly $1 billion in sales at The Pinnacle, generating nearly $69 million in sales taxes for the State of Tennessee and local governments.

“Our vision was to create a retail complex at the gateway of a five-state region and leverage The Pinnacle for future growth in jobs and unique retail and dining experiences,” says Johnson. “Ultimately, The Pinnacle enhances the quality of life for residents of the region which positively impacts other businesses and industries interested in locating here. Our vision for a 250-acre mega retail complex is exceeding every important metric.”

“Bristol is very fortunate to be the home of a world-class retail destination like The Pinnacle. Beyond the investment in our community for its initial development and the jobs that it creates, the continued growth in sales tax revenue is essential to a strong local economy and has bolstered our post-pandemic recovery,” said Bristol, Tennessee Mayor Mahlon Luttrell. “A greater share of revenue derived from sales taxes translates into more financial resources to support education, public safety and other community programs that do not have to be borne by the taxpayers of Bristol.”

“There is a taxpayer benefit to having The Pinnacle generating double-digit growth in sales tax dollars in our county,” says Sullivan County Mayor Richard Venable. “Those dollars help fund Kingsport, Bristol, Tennessee, and Sullivan County’s schools and government services, thus reducing the need for increased property taxes.”

“It’s important to note that the pay checks of those employed at The Pinnacle follow them to their home cities and counties to be spent with retailers there, benefiting their communities,” says Steve Johnson, The Pinnacle’s developer.

Beth Rhinehart, Bristol Tennessee/Virginia Chamber of Commerce President and CEO says, “There are so many bright spots in our region today, and The Pinnacle is certainly one of them. From the jobs that it creates to the traffic that it helps bring to our local economy, The Pinnacle is certainly one of our economic engines.”