Google is considering adding a feature in Google My Business which would allow business owners to add descriptions that appear in the local panel in search results. Both @deegs20 and @maulikpanchal posted screen captures of this in action. The feature was removed back in 2016 when they dropped the Google+ support, but it seems to be added back via the Google My Business console.
Those who are using Google My Business are able to get into their accounts and click on the “info” section, where they’ll see this business description section that can be edited. Dave DiGregorio took a screen shot:
After that, it can show up in your local panel, closer to the bottom:
Recently, the information was added to the official Google help documents, which now say:
Enter a brief description of your business — what you offer, what sets you apart, your history, or anything else that’s helpful for customers to know. Descriptions must be no longer than 750 characters and can’t include URLs or HTML code.