Yesterday afternoon the South Carolina Senate officially passed massive new tax legislation that would offer the Carolina Panthers a total of $115 million in tax breaks to move the team’s headquarters and training facilities over state lines.
According to SC Senate Bill 655, “The Carolina Panthers are interested in a new indoor practice facility to replace an outdoor practice facility currently located near Bank of America Stadium in downtown Charlotte, NC. The Panthers are considering moving their football operations to South Carolina. The team is interested in moving the team’s headquarters and training facilities to either York or Lancaster County based on media reports. The move would involve 150 or more employees, coaches, players, team executives, offices, parking, and the team’s other departments.”
The bill goes on to list out about a dozen changes to the existing statutory tax break law that would creatively allocate a minimum of $115 million in tax breaks for the Charlotte-based team.
SC Governor Henry McMaster sent out a tweet shortly after the bill was passed, saying that his state is “committed to creating the most competitive business environment in the world so that South Carolinians can benefit from jobs created by great organizations like the @Panthers.”
This vote sends a resounding message to the world that South Carolina is committed to creating the most competitive business environment in the world so that South Carolinians can benefit from jobs created by great organizations like the @Panthers. #SCStrong #KeepPounding https://t.co/Wr8W8QJsFk
— Gov. Henry McMaster (@henrymcmaster) May 9, 2019
If the bill becomes law, the Panthers are planning to purchase up to 200 acres in Rock Hill off I-77 between Dave Lyle Boulevard and Eden Terrace for a massive new development project.
According to Panthers officials, the new project will feature an orthopedic sports medicine facility employing about 200 people and a hotel with at least 150 rooms and space for conferences. It also could attract a new corporate headquarters and several residential projects.
A few minor points of the new bill will be hashed out by House and Senate members later this month, after which it’s expected to pass the House and be signed into law by the governor.