July 8, 2014
Metal bearing component manufacturer NN Inc., Johnson City, Tenn., has purchased the SunTrust Bank Building in Johnson City for use as its new corporate headquarters. At about 60,000 sq. ft., the facility provides a new base of operations for the company’s current corporate staff, with additional space to accommodate expected future growth.
To secure the project, the Tennessee Department of Economic and Community Development offered NN a competitive incentive package that includes a $2.0 million Economic Development Fund Grant. The Washington County Economic Development Council has offered $0.8 million in property tax credits over 10 years, and the TVA has offered incentive programs totaling $0.4 million. These programs are based on NN creating a certain number of jobs in Johnson City.