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Legend [16439]
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Let the Panthers be “Charlotte” or “North Carolina”
May 9, 2019, 6:57 PM
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They have fans in South Carolina, and most definitely in Rock Hill, but how much do they really represent South Carolina? It was cool seeing them play their inaugural season in Clemson, and I went to a few games at DV, but I don’t see what’s in it for our state to shell out huge tax incentives for a PRACTICE facility. Put a Palmetto tree on the uni, and maybe I would feel different, but I doubt it.
My NFL team has been the Buccaneers for 43 years, and always will be, and I have been a SC resident for my whole (50+ years) life. And I wouldn’t support the proposed tax incentives for a Bucs practice facility in SC, either.
#moneygrab
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Orange Blooded [3571]
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As someone that lives in the Ft Mill/Rock Hill
May 9, 2019, 7:13 PM
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area, I would love to see the practice facility move into SC. It’s going to be much more than a practice facility. It will be very similar to what Jerry Jones built for the Cowboys. It’s going to be an attraction of hotels, shops etc. The economic impact for the state will far outweigh a few tax incentives. It will also become the headquarters for the Panthers meaning jobs for the state.
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Legend [16439]
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Thanks for the education
May 9, 2019, 7:19 PM
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Good points all. I am for what is good for the state first, so if it is a good deal for SC, I may be able to get behind the transaction...just not the team.
I never had much exposure to your part of the state until my daughter went to Winthrop, but I am a big fan of the area now. Go Tigers, and Go Eagles!
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110%er [6825]
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Re: As someone that lives in the Ft Mill/Rock Hill
May 10, 2019, 8:04 AM
[ in reply to As someone that lives in the Ft Mill/Rock Hill ] |
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Actually, the economic impact is likely minimal at best, potentially harmful in the long term. Often those pitching it are way oversell the economic "value". Unless the team makes a permanent change to support a given locality for 30+ years, you could look at a municipal bust.
1. Lost revenue of $115 million is a lot. That is about 1/5 of Clemson's endowment, double Rock Hills annual revenue. So how long will it take for the municipalities/state recoup? Well, there is the scary item. Hotels guest spend about $60 per night (average over all nights over all guest, including children) at both the hotel and aux services... and the state/locality recoups about $2.50 in taxes per guest. To recoup that investment, the Panthers will need to generate 46 million guests evenings. Will this facility generate 4.6 million in additional guest per year? Does the NFL have a great track history about staying put? Nope. Do you think they stay when the incentives stop? Nope. Should have spent that $115 on Death Valley trophy cases.
2. Sure, activity will generate revenue but it also consumed resources too. What folks don't look at is the additional infrastructure/services that this will require. Additional road/paving cost, additional sewer work, fire services, police services. Folks might look at a $### in economic revenue but also ignore the economic cost for supplying the activity.
3. There is little doubt that "related activities" (aka the new businesses) to this complex will displace current local business. They will simply cause cost to increase in prime areas. Why is this a problem? What happens when the panthers move back to NC in 10 years? Do those "related actives" stay? Nope. Then it is an economic double whammy as you lose the "new" and well old local business and then the municipality is trying to get ANYTHING back. Then the incentives to take over abandoned areas added onto the costs. You can't just discount once, you often discount for a much longer time.
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Legend [17606]
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Re: As someone that lives in the Ft Mill/Rock Hill
May 10, 2019, 8:08 AM
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Just to your first point, it's opportunity cost, not lost revenue. If they don't move the practice facility to SC, we don't get the $115M anyway.
I agree with your other 2 points.
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110%er [6825]
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Re: As someone that lives in the Ft Mill/Rock Hill
May 10, 2019, 8:39 AM
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True and I agree with that - but I am making the assumption that if they accept, then it is lost revenue. It is just a pre-approved loan of sorts, just no debt until things are signed.
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Orange Blooded [2217]
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The site they’re building on
May 10, 2019, 9:36 AM
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Is the old Knights stadium so the infrastructure is largely there and not much opportunity cost because it is just sitting there empty now. So pretty much any revenue that comes in is better than vacant land.
If they build it as they have stated as the mixed use facilities with restaurants, hotels, etc. it should bring a decent amount of revenue to Rock Hill. It’ll likely be primarily during training camp but it’s better than nothing.
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All-TigerNet [10498]
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All-TigerNet [10460]
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Re: Let the Panthers be “Charlotte” or “North Carolina”
May 9, 2019, 7:35 PM
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I'll never forget how Jerry Richardson lied about where he was going to build the stadium in order to get political support from Thurmond and Hollings to help him obtain the franchise. F the Panthers.
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Orange Blooded [4757]
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Re: Let the Panthers be “Charlotte” or “North Carolina”
May 10, 2019, 6:46 AM
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The Panthers made a conscious decision not to mine the SC market...they made some token gestures towards SC but not much more. It was disappointing, especially after all the excitement about having a team that would represent both Carolinas. Putting the stadium right in the middle of Charlotte was a bit of a smack in the face after they made so much noise about wanting Sandlappers to feel ownership of the team. I appreciate that they're the "local" team, but I'll never be more than a bandwagon fan.
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All-TigerNet [14459]
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Re: Let the Panthers be “Charlotte” or “North Carolina”
May 10, 2019, 7:11 AM
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i am not much for helping out billionaires but if you dont think having that facility in rock hill brings gazillions to south carolina then you are living in a fantasy world. this is not going to be just a practice facility but way much more than that. google jerrys practice complex in dallas. as they say you got to spend money to make money. very true in this case.
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Rock Defender [69]
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Re: Let the Panthers be “Charlotte” or “North Carolina”
May 10, 2019, 7:47 AM
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Will they be taxed in North or SC? Because if they aren’t paying it back in taxes or job creation then what’s the point?
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All-TigerNet [14459]
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Re: Let the Panthers be “Charlotte” or “North Carolina”
May 10, 2019, 7:53 AM
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GOOGLE IS A WONDERFUL TOOL.
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