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NFL Playoffs Bring Economic Boon to Charlotte

NFL Playoffs Bring Economic Boon to Charlotte
January 14, 2016 Cassee Cunningham

nfl playoffs charlotte panthers cassie cunninghamThis has been an amazing season for the Carolina Panthers. By all accounts, the Panthers went into almost every game as the underdog. Yet with each win, tickets became harder to come by. And now, after a 15-1 regular season record, the team has made it to the NFL playoffs, getting things started this weekend by taking on the Seattle Seahawks.

But outside of the successes of the Panthers, all of this is big news for the economy of Charlotte. During the regular season, as more folks flooded to the games, an increase in business came to area hotels, restaurants, and bars. Even restaurants and bars away from the stadium and Uptown benefited as folks brought their viewing parties out to different locations.

The playoffs only stand to increase this trend. By locking up the top seed in their conference, the Carolina Panthers claimed home field advantage throughout the playoffs and now have the possibility of two home playoff games this month. Analysts estimate each home playoff game can have at least a $5 million economic impact. Big weekends, like those of an NFL home playoff game, bring in a 40 percent increase in tax revenue, and that money gets reinvested in the city in projects such as Time Warner Cable Arena, the convention center, BB&T Ballpark and more.

Charlotte Chamber of Commerce President Bob Morgan says of the exposure and its effect on the Queen City’s economy: “There is a national audience for the NFL playoffs and Charlotte is going to be featured prominently.”

The benefits for the Charlotte economy will extend beyond the NFL season, too. According to an interview with Fox 46 Charlotte, Tom Murray, CRVA CEO, said: “Overall awareness that happens and people find out that Charlotte is a really good place to go. Now we are in that mindset of cities that are relevant, the Seattles, the Austins, the cities that people think are interesting and they want to be part of.”

So thank you, Panthers, for all you’re doing for the city! Keep Pounding!

Image: FreeDigitalPhotos.net

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