This week, the Charlotte City Council approved a $650 million investment from the city’s tourism and hospitality tax fund to support renovations to Bank of America Stadium. This funding is part of a public-private partnership with Tepper Sports & Entertainment, aimed at modernizing the stadium and securing a multi-decade commitment between the City of Charlotte and two major sports franchises.
The Charlotte Regional Business Alliance championed this transformative economic development investment. The CLT Alliance hosted a press conference with business and community leaders to emphasize the importance of this investment and garner community support. The CLT Alliance also advocated directly to city council members during public hearings and mobilized investors and stakeholders to take action and participate in further outreach.
View the CLT Alliance statement on the vote here.
An upgraded stadium is a vital ingredient in the region’s economic development formula. Bank of America Stadium is a community asset and vital economic engine for the Charlotte Region, boasting an annual economic impact of $1.1 billion. Renovations are expected to be completed by the 2029 NFL season.
“As the voice of business, the Charlotte Regional Business Alliance thanks members of the Charlotte City Council for their vote in support of this transformational investment,” CLT Alliance Chief Advocacy Officer Joe Bost said. “Your vote ensures we will write the next chapter in our public-private partnership story by upgrading Bank of America Stadium. The business community appreciates your leadership.”
