Officials: SC projected to receive $188M in earnings when Panthers move

Updated: Apr. 9, 2019 at 12:48 PM EDT
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COLUMBIA, SC (WIS) - Officials are continuing to pound out details regarding the Carolina Panthers’ move to South Carolina.

On Tuesday, lawmakers released projected figures from the Professional Sports Team Investment Act. Under that act, the Panthers will invest a minimum of $200 million to build their team complex either York or Lancaster County. The complex, according to a letter from Gov. Henry McMaster, will be modeled after “The Star,” the Dallas Cowboys’ sports and entertainment district.

Officials put together a 15-year cost-benefit analysis that estimates a net positive value of more than $188 million for South Carolina and a $3 billion impact to the region and to the state. In that analysis, present-day costs are projected to reach more than $107 million. That would include a job tax, development credits, and enhancements to I-77.

“This is a great deal,” wrote Gov. McMaster. “It will create economic growth and prosperity for our citizens. It will bolster South Carolina’s prestige and “brand” around the world. And it will provide our state with a distinct advantage in the global competition for jobs and capital investment.”

House Bill 4243, which includes the Professional Sports Team Investment Act, is sponsored by Rep. Gary Simrill (R-York) and House Speaker Jay Lucas (R-Darlington).

WATCH: McMaster: Carolina Panthers hope to relocate facilities, 150+ employees to South Carolina

You can find House Bill 4243 below.

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