Tepper’s Getting A Boatload of Cash.
David Tepper’s Carolina Panthers National Football League franchise has claimed the team’s biggest victory of the 2019 season. Tepper is getting $115 million from South Carolina elected officials to help move his team’s headquarters and practice facility from North Carolina to South Carolina. South Carolina really wanted Tepper’s Panthers business because it might be an economic revenue generator. The state offered tax breaks and incentives over a 15 year period if Tepper took his business to York County, South Carolina just over the North Carolina state line close to Tepper’s home stadium in Charlotte. The South Carolina politicians thinking was that if it could entice Tepper to build a facility in York County, other businesses will follow. But practice facilities are closed so there will not be tens of thousands people going through the area spending money at the training facility. Panthers’ executives were looking for a new facility in areas of North Carolina and South Carolina. The Panthers practice facility is currently adjacent to the team’s Charlotte stadium. The new facility, which Tepper will fund, will include two practice facilities and an indoor practice facility that could seat 10,000 people. The facility will be off Interstate 77 and right now there is no way of accessing the site from the highway but have no fear, an interchange will be built to help Tepper’s business. The cost? $40 million, half of which will be fund by federal taxpayers, the rest by local taxpayers.
South Carolina political proponents of the Panthers training camp expenditure have said they are not giving taxpayers money away, instead South Carolina will allow Tepper to keep employees state income tax so that Tepper could use that money to build his team’s headquarters. Tepper apparently is not spending his money in getting what he wants, a modern headquarters.