A Boston Center by Any Other Name ...
Staff -- Tradeshow Week, 6/18/2007
Massachusetts state legislators think they may have found a way to add between $500,000 and $1 million a year to the Boston Convention & Exhibition Center's bottom line.
The Massachusetts State Senate has passed an amendment to a state budget bill, now being considered by a legislative conference committee, that would give the Massachusetts Convention Center Authority the ability to sell naming rights for the BCEC.
Even the legislator who came up with the idea, Republican State Senate Minority Leader Richard Tisei, said giving a corporation the right to the convention center's name is just a suggestion, but one he believes would help reduce or eliminate the BCEC's current annual $2.5 million state subsidy.
"We just want to see if there's interest out there and to see who bids," Tisei said.
MCCA Executive Director Jim Rooney said the idea "just doesn't feel right for a number of reasons. I'm concerned about changing the name in any way."
Rooney admitted there was precedent. The MCCA sold the naming rights to its convention center in Springfield, Mass., to the MassMutual Financial Group, allowing it to be called MassMutual Center. The BCEC is different, he added: While MassMutual attracts a regional and statewide audience, the BCEC has begun to draw events with attendees, exhibitors and sponsors from around the world.
Among those most likely to be interested in naming rights at the Boston center are the numerous health care and technology firms in the area, many of which use the center. However, they might also have competitors that want to rent space in the center, sponsor events or exhibit in shows there.
Part of the agreement with MassMutual is that the MCCA can't accept advertising from other financial institutions at the Springfield center.
Rooney believes business could be lost because of the conflict of interest at BCEC, canceling out any benefit.
Tisei said that Massachusetts was facing a budget deficit, and that selling the BCEC naming rights is one of many ways being looked at to cut that deficit. The legislation only gives the MCCA the authority to sell the naming rights if it finds the right buyer; it does not mandate it, he pointed out.
