Under a new naming-rights agreement, the Worcester (Pa.) Centrum Centre, Arena and Convention Center Complex will now be known as the DCU Center.
Under a new naming-rights agreement, the Worcester (Pa.) Centrum Centre, Arena and Convention Center Complex will now be known as the DCU Center. The deal, negotiated between the City of Worcester, Digital Federal Credit Union (DCU) and venue-management company SMG, is for a 10-year term and has a cash value of $5.2 million.
Conversion to the new name will occur over the next two months. The specific terms of the agreement include a one-time, upfront payment of $4.8 million. In addition, DCU will pay for the design, construction and installation of five exterior facility-identification signs and an interior kiosk at the main entrance of the Convention Center. The kiosk will provide DCU with a location to market its services to attendees of the facility. These components will result in the total cash investment of $5.2 million.
In addition, DCU will also provide extensive marketing and promotional support for the facility. Also, DCU will have access to utilize the facility for private events and a community fundraiser. DCU's partnership in marketing and utilization of the facility will more than double the initial cash investment value to the facility over the length of the agreement.
This is the 15th agreement that SMG has been instrumental in bringing to fruition on behalf of their municipal partners. In total, SMG manages 30 separate facilities with naming-rights arrangements.