The group that manages PNC Arena, Centennial Authority, released its latest economic impact report during a meeting Thursday.
The report projected the arena would bring in more than $3 billion of revenue over the next five years.
It’s a massive number that officials said prove the building is worth investing in and renovating.
“I mean, these numbers are incredible. I truly, when I heard the number, I was blown away,” Centennial Authority Chair Philip Isley said. “I don’t think it doubles what the economic impact was in 2018, but it gets close to it.”
Centennial Authority has been working for years on plans to renovate PNC Arena. It recently received guarantees that
hospitality taxes would be available
to use toward those renovations.
However, the team of architects working on those renovation plans for years was
let go from the project earlier this month.
Isley said the decision to bring in new architects will not delay the renovation plans.
“We’re not going to miss a beat,” he said. “Our plans are still moving forward for 2025, 2026, 2027.”