Binghamton, NY (WBNG Binghamton) One of Binghamton's biggest entertainment venues will soon have a new name.
Maines Paper & Food Services has acquired the naming rights for $75,000 a year.
But, there is one part of the name that won't be changing; the word "veterans" will remain. The arena will be called the Floyd L. Maines Veterans Memorial Arena.
“The one thing that was very important to me when we started with this was to meet with the veterans to make sure this would be okay before we did anything," said Broome County Executive Debbie Preston.
Floyd Maines was a veteran. He was in the Navy during World War II. After the war, Maines had the opportunity to join the FBI but was asked by his father to become part of the family business, Maines Candy Company.
Maines choose to join the family business. He transformed the candy company into a multi-billion dollar food services distribution company. Floyd died in 2007.
"We really wanted to honor Floyd and we've been looking for a means to do that," said Christopher Mellon, President and CEO of Maines Paper and Food Services. "And in the same vain, we've also been looking for something that, on an ongoing basis, we could honor our veterans."
Maines Paper & Food Services is a third generation family owned business. It is one of the largest independent food service distributors in the country. Its revenue base is more than $3 billion and it serves costumers in 36 states.
Preston's hope is that the partnership between Maines and Broome County will help to make the arena better than ever.
"The arena still needs more money to keep this building operating, to bring in the acts that we need, so this is just going to add to that," said Preston. "It's much needed revenue to keep this facility operating."
The name change will take effect on July 1, 2014. For now, the agreement is for 5 years, but could be extended for an additional 15.