Huntington Assumes Cleveland Convention Center Naming Rights
CLEVELAND, OH -- (Marketwired) -- 04/06/16 -- The Cleveland Convention Center will now become Huntington Convention Center of Cleveland with Huntington Bancshares Incorporated's (NASDAQ: HBAN) (www.huntington.com) purchase of naming rights held by FirstMerit Corporation.
Huntington, FirstMerit and Cuyahoga County have agreed that Huntington will take over naming rights for the convention center facility to prevent duplicative costs. The timing will enable long-term exterior signage to be installed by summer in advance of Cleveland's hosting of the 2016 Republican National Convention. Image links are available below.
Huntington pays FirstMerit $500,000 for the assumption of its agreement with Cuyahoga County. The agreement will continue to provide more than $400,000 annually to the county for the convention center 20-year naming rights.
"This is a great moment for Cuyahoga County and the Greater Cleveland community to take pride in the outstanding showcase that is the convention center," said Steve Steinour, Huntington's chairman, president and CEO. "As the eyes of the country and the world focus on this important center in the Midwest, we want to step up and ensure top-quality signage design is in place and ready to share."
"This is a smart step forward for greater Cleveland's long-term identity," said Cuyahoga County Executive Armond Budish. "It represents what we can expect of Huntington in honoring FirstMerit's commitments to the community. Both companies have been enthusiastic partners in supporting and promoting Cleveland and Cuyahoga County."
"Our initial excitement announcing support for the city and county through convention center revenue continues today," said Paul Greig, FirstMerit chairman, president and CEO. "This is a legacy for the future no matter what name the building bears."
"As Huntington's leader in the community, I know there is a lot of interest in convention center signage being completed to show off the city to its best advantage, both this summer and for many years to come," said Renee Csuhran, interim Greater Cleveland region president. "We appreciate the role of the Landmarks Commission in ensuring the best design selection in this transition."
The agreement as assumed includes signage rights and branding inclusion for Huntington's customized convention center logo. Image assets are available at the following links:
Huntington Bancshares Incorporated is a $71 billion asset regional bank holding company headquartered in Columbus, Ohio, with a network of more than 750 branches and more than 1,500 ATMs across six Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington also provides auto dealer, equipment finance, national settlement and capital market services that extend beyond its core states. Visit huntington.com for more information.
About the Huntington Convention Center of Cleveland
Located in the heart of downtown Cleveland, the Huntington Convention Center of Cleveland has hosted more than 500 events across multiple industries, including healthcare, education, manufacturing, and real estate/banking/business, since opening its doors in summer 2013. Managed by SMG, the Convention Center provides 225,000 square feet of exhibit space, a 32,000-square-foot Grand Ballroom, 35 meeting and breakout rooms, a robust technology package, an expansive truck loading dock, and a 12.5-acre green roof with spectacular views of Lake Erie. The adjacent Global Center for Health Innovation serves as a catalyst for fundamental improvements in health and in healthcare quality, access, and cost through technology-driven showroom spaces and industry-inspired meetings and programs.
The attached 600-room Hilton Cleveland Downtown Hotel is scheduled to open in June 2016, featuring a 32-story tower filled with guest rooms, meeting space, ballrooms, and multiple dining and entertainment options.
Source: Huntington Bancshares Incorporated
Released April 6, 2016