The Charlotte Regional Business Alliance, along with leading economic development organizations from across the region, hosted a news conference this week in support of making a generational investment in Bank of America stadium that will secure a multi-decade commitment between the City of Charlotte and two of the major sports franchises.
The CLT Alliance, Charlotte Center City Partners, Charlotte Sports Foundation, Hospitality and Tourism Alliance, 100 Black Men, and the Latin American Chamber of Commerce joined together in support of upgrades to the stadium.
“As partners, we speak with one voice in support of our elected officials as they carefully consider this proposal and its benefit to our entire community,” a joint statement read in part. “We want to thank our elected officials for their thoughtful consideration of the proposal.”
This public-private investment is a strategic move to modernize and advance one of our foundational public hospitality assets. Bank of America Stadium is uniquely seated in the heart of the region in Uptown Charlotte and serves as one of the Carolinas most powerful economic assets, driving $1.1 billion in economic impact every year.
Bank of America Stadium opened in September 1996 and for most of its first 22 years, hosted approximately 14 events a year. However, in the last few years, that number has soared to nearly 40 events a year, from Professional, Collegiate and High School football, Major League and International soccer matches and concerts featuring headliners from Beyoncé to Luke Combs. Nine of the last ten days with the most visits in Uptown Charlotte were driven by events at Bank of America Stadium. The direct and ancillary benefits to hospitality, tourism and small businesses throughout our community have soared.
The funding for this proposal comes from food & beverage and occupancy tax revenue dedicated to tourism-related projects and infrastructure. Hospitality and tourism partners are enthusiastic about these specific funds being used to support this proposal. To learn more about the city’s plans to allocate funds to assist with renovations, please visit this link.
“To remain competitive, we must play to win,” Andrea Smith, interim president and CEO of the CLT Alliance, said. “An upgraded Bank of America stadium is a vital ingredient in any economic development formula. As the voice of business, the Charlotte Regional Business Alliance thanks the Tepper organization and the City of Charlotte for being willing to make such a critical investment in this community’s future and appreciates the city council’s consideration of this transformational project.”
The CLT Alliance supports this important investment. If you also would like to share your support for this transformational economic development investment with Charlotte City Council Members, you may reach out here.
