DETROIT — The longtime home of the Detroit auto show, which is moving to June next year, will be renamed.
Chemical Bank has purchased the naming rights of Cobo Center in a 22-year deal that will change the brand of the city's riverfront convention center as the bank moves to solidify its growing regional presence ahead of a planned merger with TCF Bank.
The 59-year-old convention facility will become known as TCF Center if Chemical Bank's merger with TCF Bank is approved by federal regulators, bank leaders told Crain's Detroit Business.
Chemical Financial Corp. has agreed to pay the Detroit Regional Convention Facility Authority $1.5 million annually for 22 years for the naming rights to the convention center, said David Provost, president and CEO of Chemical Financial Corp., the holding company of Chemical Bank.
"We expect the center to carry the TCF brand upon regulatory approval later this year," Chemical Bank Chairman Gary Torgow told Crain's before Wednesday's announcement.
The Detroit auto show, started in 1907, moved to Cobo in 1965 and has been held there since. As part of a new $7 million, seven-year deal through 2026, the show is moving from winter to summer.
Detroit's outdoors will play a much bigger role. Companies want to showcase new technologies outside such as autonomous vehicles and ride-sharing apps, and get audiences more comfortable with them through hands-on experiences.
The summer show is also expected to drive down costs for automakers by reducing the amount of time they have to erect displays and move in products to around three weeks.
The 2020 show schedule:
• The Gallery: Saturday, June 6
• Press preview: Tuesday-Wednesday, June 9-10
• Industry preview: Wednesday-Thursday, June 10-11
• AutoMobili-D: Tuesday-Thursday, June 9-11
• Charity preview: Friday, June 12
• Public show: June 13-20