RTD Hopes to Raise Funds By Selling Naming Rights to Stations and Lines
Casa Bonita Station? The Colorado Rapids Line?
These names are completely speculative, but maybe not far from reality if RTD gets its way. The transit agency is trying to lure corporate sponsors to buy naming rights as it prepares to open four new rail lines next year.
Each sponsorship could haul in as much as $1 million a year if a company decides to sponsor an entire line, according to RTD staffer Scott Reed, who presented the Board of Directors with an update on the process Monday. RTD hired an advertising firm to sell sponsorships, and has 19 proposals under review, Reed said.
Selling naming rights is part of a long-term strategy to create recurring revenue for a consistently cash-strapped RTD. The proposals come at a time when the Northwest Rail Line between Denver and Longmont looks like a broken promise, and RTD officials are trying to fund discounts for low-income transit users, even as overall fares rise.
Reed is certain that once a major sponsor signs on, more will follow suit.
“No one wants to jump in the pool first in case there are sharks in there,” he said.