It's taken months, but on Wednesday Sioux Falls' new multi-million dollar events center officially has a name.
After spending thousands of dollars to study the idea and find a corporate sponsor, the city announced it's reached an agreement with Sanford Health, First Premier Bank and Premier Bankcard for naming rights for the outside of the building.
Sioux Falls' new events center is still just a conceptual drawing. The city hasn't even broken ground yet, but pending City Council approval, First PREMIER Bank, PREMIER Bankcard and Sanford Health will be the title sponsors for the building.
"This is a wonderful deal for the city and this state because they care not only about today, but they care about this town years from now," Sioux Falls Mayor Mike Huether said.
The mayor wouldn't disclose terms of the deal, but says the money will pay for operating costs and will help keep the Events Center operating in the black.
"To keep a facility open you have to heat it, you have to cool it and maintain it. These dollars coming from a private entity will be used to do that versus using taxpayer dollars, so it's a big, big deal," Huether said.
The city spent more than $20,000 to hire a company to secure a corporate sponsor. But it also spent $65,000 to study the idea to see how much money the events center could get in sponsorships, not only for the Events Center but also the Convention Center and the Arena.
"You will see a name on each of the buildings," Community Development Director Darrin Smith said.
Smith says now that the city has secured naming rights for the outside, it'll begin focusing on naming rights for the inside of the facility.
"There are a number of opportunities that we've already identified working with the consultants and ourselves identifying opportunities," Smith said.
The city is going to hold a news conference on Thursday to release more details of the deal. Ground breaking on the $115 million facility is scheduled for August 30.