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CLEVELAND (AP) — Officials say Akron-based FirstMerit Corp. is one step closer to landing the naming rights to the Cleveland Convention Center.
Cuyahoga County Executive Armond Budish has submitted a proposal to the Cuyahoga County Council to partner with the financial services company.
The legislation will be considered during the council’s regular meeting on Tuesday.
Chief Marketing Officer Julie Tutkovics says FirstMerit will pay $400,000 annually throughout their 20-year agreement with the county. Officials say contract parameters include a slight adjustment for inflation of 2.6 percent per year.
If the proposal is accepted, FirstMerit would be the first naming rights partner for the convention center since it opened in 2013.
FirstMerit President Paul Greig says it’s an exciting time for Cleveland “as its profile continues to grow in the eyes of the world.”