KINGSPORT — Holston Business Development Group hopes to acquire the former National Guard Armory property on West Stone Drive in order to expand the Holston Business Development Incubator.
The incubator helps small businesses get started by offering progressive rent for office space, as well as some administrative assistance.
The potential expansion using the old armory site could give the program enough space to offer startup room for light manufacturing.
Last week the Kingsport Board of Mayor and Aldermen approved a resolution pledging the city will back up the group’s loan.
The resolution stated the intent of the board to support the purchase of the property for use by the Holston Business Development Center up to $400,000, if needed.Read more in the Sunday print edition of the Times-News or in the expanded electronic edition.