KINGSPORT, Tenn. (WJHL) – Kingsport Mayor Pat Shull and City Manager Chris McCartt discussed the multitude of projects underway in the city Thursday.

During the annual State of the City address at the MeadowView Conference Resort and Convention Center, Shull and McCartt provided updates on projects in 2023 like the Main Street Rebuild, the Brickyard Village, Bays Mountain Park and the Fort Henry Mall.

City leaders also shared details on the allocation of funds, such as $3.8 million for street resurfacing, and funding for the next phase of the city employee pay plan.

A release from the City of Kingsport states it is currently “experiencing a wave of construction” that includes residential and commercial developments, improvements to public amenities and redevelopment.

“Kingsport remains financially sound with strong revenues, conservative budgeting and sound financial management,” the release states. “The 2023 fiscal year closed with a $25.5 million fund balance, which represents 26% of the city’s operating budget. Kingsport’s strong financial position fueled the issuance of a $63 million bond earlier this year to fund a variety of critical capital needs, most notably the renovation of the Buck Van Huss Dome.”

McCartt and Shull both said the financial stability of the city is pivotal to its overall success.

“Our sales tax collections continue to grow; we’re managing our debt extremely well and as a result the city’s financial health remains strong and sound,” McCartt said.

“One of the city’s greatest strengths is outstanding financial management, evidenced by numerous awards over several years,” Shull said. “Kingsport continues to be an attractive place for new citizens, as well as prospective and existing businesses.”

Since 2022, Kingsport has seen a boom in permits issued for new residential developments. 314 permits were issued in 2022, and city leaders said 2023 was on pace to match that.

Other topics covered in the address included the recent announcement of an IMAX theater coming to the Fort Henry Mall and the completion of a pump track at the Brickyard Complex.

The entire State of the City address can be viewed online.