PNC Arena, Raleigh Convention Center set to receive millions for extensive renovations

RALEIGH, N.C. (WTVD) -- The Stadium Series game and a Comic-Con are just a couple of the big events this year that drew thousands of fans from all over the country straight to Wake County.

Officials are looking to build on that momentum and each venue is set to get a facelift.

Wake County and Raleigh leaders are preparing to invest millions of dollars into renovation projects at PNC Arena and Raleigh Convention Center. Officials said the investments are necessary to stay competitive and a series of votes are taking place this week to get the ball rolling.

SEE ALSO | $300M in renovations, upgrades tentatively allocated for PNC Arena

PNC Arena expects to receive $300 million of tourism tax money to use for renovations and updates.

"We knew that this year, we would be looking to make a really substantial impact investment in those two major projects," said Wake Assistant County Manager Denise Foreman.

PNA Arena would receive more than $21 million annually for 25 years from hospitality taxes towards enhancements that improve the fan experience, although there will be some challenges with the work.

"The costs of capital projects have increased substantially in the last several years," said Foreman.

Staff from Wake County and the City of Raleigh also recommend using $355 million in hospitality tax revenue to expand the Raleigh Convention Center and $32.5 million to relocate Red Hat Amphitheater.

The Convention Center could double in size and a hotel would be added to address a lodging shortage.

According to the Convention Center, 45 percent of the business lost between 2018 and 2020 was because of a lack of hotel inventory.

SEE ALSO | Where will money for PNC Arena and Raleigh Convention Center upgrades come from?

The NHL Stadium Series was a huge success and now it has Wake County leaders focused on attracting other big events.

The Greater Raleigh Convention and Visitors Bureau is applauding the agreement.

"They will undoubtedly lay the framework for enhancing our tourism and hospitality infrastructure and destination attributes. We are eager to assist in implementing the recommendations of the city and county managers when these projects are fully approved and further plans are unveiled," said GRCVB President and CEO Dennis Edwards.

"We know the tourism industry is really important to Wake County. It creates jobs. It helps expand our brand and sell ourselves to folks across the country and really across the world," said Wake County Commissioner Matt Calabria.

The Centennial Authority Board, which governs PNC Arena voted on a spending plan Tuesday morning and the Raleigh City Council signed off Tuesday evening.

Wake County Commission will vote Monday.