Three New Retailers Open Their Doors at The Pinnacle
January 14, 2020
BRISTOL, Tn. — The region’s largest retail complex is about to get larger as three new retailers will open their doors soon at The Pinnacle. The opening of a T-Mobile store as well as a Waffle House and New Best Buy brings the number of retailers at the Bristol, Tenn. location to 73.
“Our vision for an extraordinary retail complex continues to unfold with the addition of these three great brand name retailers,” explains developer Steve Johnson. “We set a new record for visitors to The Pinnacle in 2019, and we’re enthusiastic about the new year.”
The Pinnacle estimates 5,230,450 people visited the site in 2019.
The Pinnacle set a new holiday traffic record of 165,000 vehicles visiting stores, restaurants and other retailers during the holiday season. Overall, it is estimated that more than 5,230,450 people visited The Pinnacle during 2019, a 5.1 percent increase over the previous year.
With those visitors came the benefits of the sales tax dollars and employment to the region. While holiday sales are still being calculated by the State, it is estimated that $200,000,000 in total sales were generated at The Pinnacle in 2019. Sales tax dollars are shared by the State with the City of Bristol and Sullivan County to support schools, provide law enforcement and other key governmental functions.
“There are about 2,000 people who work at retailers at The Pinnacle,” Johnson explains. “They take their paychecks back home to support their families and their local economies—whether they live in Tennessee or Virginia.” According to Networks, a Sullivan County economic development organization, 2,000 workers at The Pinnacle would rank the retail complex as the fourth largest employer in the county behind Eastman, Ballad Health and Holston Medical Group. Among industries in Sullivan County, it would rank second, just behind Eastman and ahead of BAE Systems.
“The Pinnacle has been a blessing to the taxpayers of Sullivan County,” says Richard Venable, Sullivan County Mayor. “Without the sales tax dollars provided by the retailers at The Pinnacle, the tax burden on county residents would be much greater. The jobs the site creates offer support to families throughout the region. Their purchases support other local businesses and their contributions to churches and charities are likewise beneficial.”
Beth Rhinehart is President and CEO of the Bristol Chamber of Commerce. She says The Pinnacle offers additional benefits to Bristol. “Those who visit The Pinnacle don’t just shop there and leave. Many also explore our downtown attractions such as the Birthplace of Country Music Museum as well as local shops and restaurants.”
Among the new stores at The Pinnacle, Best Buy is the nation’s largest electronics retailer. A T-Mobile store and an iconic Waffle House will generate additional traffic to the shopping, dining and entertainment mecca for the five-state region.