Panthers Headquarters is One Step Closer to Move to South Carolina
Leaders in York County, South Carolina (where Rock Hill is located) agreed to a tax plan called "Project Avalanche", per multiple reports. This plan is dedicated to assisting the Panthers in bringing its headquarters closer to the border between North and South Carolina.
The current HQ is in Charlotte, but David Tepper has expressed a desire to move to South Carolina on multiple occasions. Making this move could eventually accrue around $3.7 billion in revenue and generate nearly 5,000 jobs in South Carolina, which currently ranks 16th in economy out of every U.S. state.
The Rock Hill Herald reported that this plan will allocate $225 million for Project Avalanche. South Carolina's WBTV (CBS) noted this interesting domino effect as a result of the plan:
"The proposed deal notes a team investment in two phases, each at $500 million. City economic leaders in recent months said the total, with hotels and restaurants and any other constructions, could value out at $2 billion."
The Panthers' transition to move from Charlotte to Rock Hill is likely to be a gradual one, and the effects of COVID-19 has certainly slowed this process. In fact, the meeting that passed Project Avalanche was held virtually in order to maintain social distancing protocols. Hopefully, the pandemic ends as soon as possible so that operations can resume as normal.
At some point, the possibility of a new stadium in South Carolina could be in the works as well. In the meantime, the Panthers will continue to perform in Bank of America Stadium and hold their business in Charlotte. The timetable for the move should be more clear after COVID-19 stalls out in America.
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