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Charlotte Business Leaders Back Panthers Stadium

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(Photo by: Victor J. Blue/Bloomberg via Getty Images)

(Photo by: Victor J. Blue/Bloomberg via Getty Images)

CHARLOTTE, N.C. (AP) — Charlotte business leaders are backing plans to improve the Carolina Panthers stadium.

The Panthers are asking for $144 million from the city of Charlotte and $62 million from the state of North Carolina to upgrade Bank of America Stadium.

The total project is expected to cost about $250 million.

City officials are asking state lawmakers to approve a 1 percentage point increase in Charlotte’s prepared food tax in exchange for the team agreeing to stay in Charlotte for 15 years.

Chamber of Commerce Chairman Brett Carter says raising the taxes will be necessary to improve the stadium.

Panthers President Danny Morrison gave a closed-door briefing to the chamber’s board of directors on Monday.

Legislative leaders say it will be hard to find $62 million in a tight state budget.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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