If you are looking for budget hotels, there are several very close to Carowinds. I recently went to a Record & CD show at the Plaza Hotel across the street from the park. This place was a bit scary to me with the lack of security and it's owned & operated by Carowinds!
The rates in the area are certainly cheap but I would recommend staying at a different exit unless you plan on going to and from the park during the day for a lunch break.
Two areas to consider with plenty of food choices are:
Ayrsley shopping area at I-485 & S. Tryon St.
- less than 10 mins from the Carowinds exit
Dave Lyle Blvd area of Rock Hill
- 11 miles south of Carowinds exit on I-77
- very quick drive (all interstate)