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The Charlotte Chamber has formally thrown its support behind the city’s effort to raise taxes on food and beverages to help pay for renovations to Bank of America Stadium.
In a public policy update, the Chamber asks the N.C. General Assembly to quickly decide on the city’s request to increase the city’s 1 percent tax on food and beverages to 2 percent to pay for the upgrades to the home of the Carolina Panthers.
“The Panthers are an integral part of Charlotte’s economic development package,” the update reads. “The Panthers also represent a positive impact to Charlotte’s economy.”
Carolina Panthers owner Jerry Richardson has asked for city and state money to help pay for $250 million in renovations, which include escalators, new video boards and suite improvements.
Earlier this month, the Charlotte City Council agreed to give the team $144 million to help pay for the renovations, maintenance and traffic control, contingent on getting state approval for the tax increase.
The Panthers have also asked for $62.5 million from the state.
