CHARLOTTE, N.C. – One of Charlotte's biggest events could be leaving the Queen City.

• The CIAA has begun the process to select its host city from 2021-2023. 
• Charlotte has been home to the tournament since 2006.
• The yearly event is one of the biggest boosts to the local economy. 

The CIAA is taking bids for their basketball tournament, which brings millions of dollars to the Charlotte area every year.

According to the conference's website, a bidding process for cities interested in hosting the tournament in 2021 has launched.

Charlotte has been home to the annual tournament since 2006.

A representative from the Charlotte Regional Visitors Authority says there's no decision yet on whether they'll submit a bid.

If the event moves out of Charlotte - many say its absence will be felt.

According to the association, this year alone, the tournament pumped more than $50 million into the local economy, including more than 400 jobs.

Raleigh hosted the tournament before that from 2000 to 2005. There's no word on if the Capital City plans to bid.

The CIAA says the selected city will host for three years.

The committee will select a host city in December of this year. The conference says the men's and women's tournament generated more than $650 million in economic impact in the last 18 years.