North Carolina House lets Charlotte take tax money for stadium


Sure, North Carolina doesn’t plan to provide any state funds to the proposed renovations to Bank of America Stadium.  But when it comes to improving the place where the Panthers play, there are other ways to skin this specific cat.

According to the Associated Press, the North Carolina House voted Wednesday to allow Charlotte to tap into existing hotel and prepared food and beverage taxes to finance the upgrades.

The bad news is that the new approach will result in $34 million less than originally planned.

Folks in Charlotte are becoming increasingly concerned that, without the improvements to the stadium, the person who buys the team after the passing of owner Jerry Richardson will try to move the franchise.  Richardson has said that he wants the team to be sold within two years after his passing.

The bill now goes to the North Carolina Senate for further consideration.

22 responses to “North Carolina House lets Charlotte take tax money for stadium

  1. How concerned are they? Enough to vote a bond referendum? Enough to approve an increase in one or more local tax funds? Or,…….only concerned enough to moan and groan and whine and complain, and blame “them” for not doing something?

    L A Panthers. It does have a ring to it.

  2. Let multibillionaires of teams worth a billion dollars in a league worth tens of billions of dollars pay for their own places of work. When a bank or real estate developer moves into a city or wishes to expand, they don’t demand the public build their skyscrapers.

  3. Given our current economic climate and the state of state and local government deficits, one might think it is time to end absurd extravagances like helping a billionaire upgrade a stadium with taxpayer funds to help a mega-profitable franchise make even more money. One would be wrong. And yet millions of Americans will continue to blame our budget problems on programs for the poor, with no sense of irony that most of our “welfare” spending is just subsidizing billionaires who don’t need or deserve it. USA! USA! USahhhnevermind.

  4. I would be interested in hearing the locals take on using public funds for sports team. It would seem to me that these funds should be used for projects that benefit the community on the whole such as building out or repairing infrastructure (roads, bridges etc), education, police or fire department.

    I can see using public funds to attract a large corporation to build a job creating structure such as a factory, assembly plant, or data center. Besides the hundreds if not thousands of well paying jobs it would bring, the trickle down effect on local business would be an additional plus.

    I just don’t see that benefit when public funds are used on these projects. Besides the short term affect of putting construction workers to work, I don’t see it generating additional tax revenue to warrant the use of public funds.

    I don’t live in North Carolina though, so maybe the locals value their team that much over funding education, infrastructure, police, or fire department initiatives?

  5. Why when you have a guy who is worth 3-4 BILLION, would a city consider kicking in 200 million for a stadium that is perferctly nice? I mean really, I go there a couple of times a year, it is a gorgeous stadium..nice food stands,,100 ft off the hwy,,,nothing wrong at all.
    I’ve been to several stadiums on the east coast and so far. only jacksonville is a DUMP first class,,,in a scummy area of town,,horrendous parking,,no hotels or what not. Panthers have one of the better venues,,and the place is only 15 yrs old….WTH?

  6. Eh, what’s a little misuse of tax payers money? DHS is using millions of tax payer dollars to buy up billions of rounds of ammunition they have no use for in an attempt to circumvent the Second Amendment and no one seems to mind. And folks called Clinton “Slick”.

  7. The Federal Government will soon bring this country to its knees with its spending as we quickly bankrupting, but ya gotta give some of these local governments credit too, as they are simple-minded fools as well. The town folk should take to the streets, and I am not even kidding a little.

  8. I don’t live in North Carolina though, so maybe the locals value their team that much over funding education, infrastructure, police, or fire department initiatives?

    We don’t. But it doesn’t matter. The locals voted down public funding for a new basketball arena, but it happened anyway. The Panthers will get their money, one way or the other.

  9. Richardson wants the team sold within 2 years of his death, eh? Anything else we can do for you after you cease to exist? Perhaps your favorite home cooked meal delivered to your final resting spot every Sunday! That ok with you?!

  10. As a Charlotte resident the roads and traffic is more of a pressing issue than financing and under achieving franchise.

  11. Hey who doesn’t want a taxpayer funded fancy stadium that will be used 10 times a year or so for a multi billionaire over roads, schools, or emergency services? So glad our priorities are in order.

  12. Companies get tax breaks and incentives to stay in a certain city or state ALL the time. Why is this any different? A USC study recently reported that the Panthers have an annual economic impact of $636 million (Annual means per year for you morons crying about how much it costs to keep a valuable asset in the Carolinas!). This study was cited by Tom Sasser the chair of the Charlotte restaurant group, who supports the sales tax increase on food and beverages for the city of Charlotte.

    First of all it’s not property tax or income tax, it’s sales tax that everyone pays (residents, visitors, illegals, etc…). Second of all the increase is for Charlotte only! So if you don’t live in Charlotte or pay taxes in Charlotte, shut up! If you do live in Charlotte, wake up and support your team!

    It’s so stupid that this is even an issue. Maybe we should just put this money into the schools… so kids can get on their new iPads to learn how dumb their backwoods parents were for opposing this proposal!

  13. Ivan, every business makes an economic impact on its surrounding area. Build a hospital, a university, a mall, whatever and it will add jobs, grow the tax base, etc. However, if a business proposal is viable on its own merits, it does not require public funding. That is socialism for the wealthy. Since you are so confident in your understanding of economics you should know this.

  14. And Ivan, if you believe spending a few hundred million to create a bunch of $8/hour jobs on ten days a year is a better use of public funds than investing in educating our children, you are a complete buffoon. You could have used some of that education yourself.

  15. The hotel and restaurant owners in Charlotte are in favor of it because they see their business suffering if the Panthers are not in Charlotte. Jerry will milk that for all he can get out of them.

    The state shouldn’t have to give a penny to Jerry and his team.

  16. Thanks for the lesson poopah. The Panthers bring way more to the table than just those few, insignificant, hundred million or six each year. When the Panthers leave Charlotte, and your idiot spawn can sext their classmates with their new Iwatches we all bought them. You might be able to take them down to the family dollar plant to cheer on your favorite fantasy workers, maybe you could wear Chiquita banana hats to show your loyalty for your favorite banana farm, or better yet take them to the NASCAR hall of fame, and talk about the best left turn you ever saw. All of these great places that offer so much to our city were brought to Charlotte, and stay in Charlotte, because of incentives, breaks, and public funding. They bring nothing to the table except the promise of jobs to rile up some politician’s base.

    Which leads me to the stupidest reason why this is even being discussed; some politician schmuck decided he needed to make a name for himself by making this an issue, and you poophat bought it.

  17. “When the Panthers leave Charlotte”

    Will never happen. The City Council ran one franchise out of town. They’ll never make that mistake again.

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