DETROIT--(BUSINESS WIRE)--Today marks a significant moment as Detroit’s world-class convention center is officially renamed TCF Center. Announced by TCF National Bank (TCF Bank), a subsidiary of TCF Financial Corporation (TCF) (NASDAQ: TCF), and the Detroit Regional Convention Facility Authority (DRCFA), this unprecedented naming rights partnership is a 22-year deal. Chemical Bank, now a division of TCF Bank following its successful merger of equals on August 1, was selected and awarded naming rights earlier this year by the DRCFA following a comprehensive, competitive process.
The new name and signage were revealed by TCF Executive Chairman Gary Torgow, TCF President and CEO Craig Dahl and DRCFA Chairman Larry Alexander, with the help of Gov. Gretchen Whitmer, Detroit Mayor Mike Duggan, U.S. Sen. Debbie Stabenow and a host of the bank’s and DRCFA’s top leaders and other state, city and community dignitaries. The unveiling event is followed by a free block party outside of TCF Center from 11:30 a.m. to 6 p.m. open to all who call the city home. Everyone is welcome to join and experience the free games, food and top-notch Motor City entertainment including: Your Generation in Concert at noon, Selected of God Choir at 4:15 p.m. and The Temptations at 5 p.m. Free DDOT bus rides are available on all downtown routes.
“We couldn’t be prouder or more honored to partner with the authority on this unique opportunity to support our hometown and state. It helps ensure a continued strong, vibrant future for the world-class Detroit convention center that connects our city to the world,” TCF Executive Chairman Gary Torgow said. “It’s an important part of our larger, intentional effort to marry inclusion with investment across the city and its neighborhoods, region and state. We look forward to reaching new heights.”
“This naming rights agreement has been a goal of the DRCFA since it was formed in 2009 and TCF Bank is the perfect partner,” said Larry Alexander, chairman of the DRCFA and president and CEO of the Detroit Metro Convention & Visitors Bureau. “Our partnership with TCF Bank will help to cement the convention center’s strong financial future. We continue to dedicate ourselves to providing world-class service to our customers, maximizing positive economic impact, creating region-wide jobs and expanding business opportunities for the benefit of business stakeholders and the local community.”
Against the backdrop of 10 million visitors who come to greater downtown Detroit and the 1.5 million visitors to the Convention Center annually, TCF Center will continue to grow its book of meetings, conventions and event business as it has continued to set record-breaking numbers since its $279 million renovation. In fact, TCF Center had an unprecedented year in 2018 with 244 events and a 564 percent increase in revenue since 2009.
“This is exciting news for the city of Detroit and the whole state of Michigan,” said Gov. Gretchen Whitmer. “The new name demonstrates TCF’s strong commitment to the future of our state, and their investment sends a powerful message to the whole country that Michigan is the home for opportunity.”
The transition from Cobo Center to the TCF Center name will take place over the remainder of 2019, with final branding and assets being updated throughout.
“I can’t think of better partners than Gary Torgow and the team at TCF Bank to help secure the future of our region’s convention center,” said Mayor Mike Duggan. “Today’s announcement, combined with TCF’s commitment to build its new headquarters in downtown Detroit and Gary’s leadership building our Strategic Neighborhood Fund, shows TCF Bank is truly invested in our city and its people.”
On Aug. 1, 2019, Chemical Financial Corporation and TCF Financial Corporation closed its merger of equals becoming TCF Financial Corporation headquartered in Detroit. Both Chemical Bank and TCF Bank brands will continue in the market until mid-2020 when Chemical Bank branches will be rebranded TCF Bank. The combination creates a premier Midwest bank with $47 billion in total assets, more than 500 branches in nine states, and a specialty lending and leasing business in all 50 states. The bank will soon build a landmark tower to serve as its headquarters in downtown Detroit and helped spearhead the $35 million Strategic Neighborhood Fund to help reinvest in and bolster Detroit neighborhoods.
About TCF Financial Corporation
TCF Financial Corporation (NASDAQ: TCF) is a Detroit, Michigan-based financial holding company with over $47 billion in total assets and a top 10 deposit market share in the Midwest. TCF’s primary banking subsidiary, TCF National Bank, is a premier Midwest bank offering consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses and commercial clients. TCF has more than 500 branches primarily located in Michigan, Illinois and Minnesota with additional locations in Arizona, Colorado, Indiana, Ohio, South Dakota and Wisconsin. TCF also conducts business across all 50 states and Canada through its specialty lending and leasing businesses. To learn more about TCF, visit tcfbank.com.
About the DRCFA
On September 15, 2009, operational control of TCF Center transferred to the DRCFA, under a collaborative agreement by the Michigan State Legislature, the City of Detroit, and Wayne, Oakland and Macomb counties. Each of these entities has an appointed member on the DRCFA Board. Larry Alexander is the appointee of the Governor of the State of Michigan and serves as Chairman of the Board. For more information, visit: drcfa.org.
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Source: TCF Financial Corporation