Kingsport approves tax increment financing for new car dealership

The Kingsport Board of Mayor and Aldermen unanimously approved tax increment financing for a proposed new car dealership at the Westside Inn property along West Stone Drive. Friendship Hyundai is under contract with the current property owner and the company has plans to build a new dealership. City officials say the tax increment financing will help make the proposed development happen and help defer costs of demolition and site preparation. The new tax plan will go before the Sullivan County Commission on Thursday.