ICCU buys naming rights to Spokane Valley Arts Center
The Idaho Central Credit Union has signed a lifetime naming rights agreement for a performing arts center project in the Spokane Valley.
Under the agreement, the privately funded venue will be called the Idaho Central Spokane Valley Performing Arts Center, which is slated to open next month on a 5-acre site near the Tru by Hilton hotel.
Organizers publicly announced plans in November to build the state-of-the-art, $36 million venue.
The 59,000 square foot facility will house a 475-plus-seat main theater, a 200-seat theater studio, a theater conservatory for local youth, and event space on the third floor.
The site will have more than 300 free parking spaces for customers.
The nonprofit arts organization held discussions with ICCU officials for naming rights earlier this year as part of its five-year fundraising campaign, said Marnie Rorholm, executive director of the Idaho Central Spokane Valley Performing Arts Center.
“The biggest opportunity was naming the building and the facility itself,” Rorholm said. “Idaho Central Credit Union was the first to really bite. They are very community minded and we are grateful that they had the foresight and vision to seize this opportunity.
The lifetime option may have been another deciding factor for the deal, Rorholm said.
“This building is truly a gift to the community,” she said. “It’s a legacy project and something that will be around long after we’re gone.”
Financial terms of the agreement were not disclosed.
Plans for the facility were sparked by the success of the Spokane Valley Summer Theater, which has set attendance records every year since its founding in 2016, according to the arts organization.
The theater will host events year-round, including eight main stage shows, more than four studio productions and three on-site summer showsaccording to the arts organization’s website.
“Partnering with the performing arts center made sense,” said Michael Watson, ICCU’s chief marketing officer, in an email. “Idaho Central Credit Union loves being part of our local communities and we love the arts.”
Idaho Central Credit Union members will be able to participate in ticket presales and seat selection before they go on sale to the general public, Watson said.
The credit union has grown steadily in the Spokane area.
It opened its first branch in the area earlier this year at 41 W. Riverside Ave., which also marks its first Washington location. The credit union is planning new branches in North Spokane, Liberty Lake and Spokane Valley.
Idaho Central Credit Union, founded in 1940, is headquartered in Chubbuck, Idahoholds more than $8 billion in assets and has more than 480,000 members in Idaho and Washington, according to the credit union’s websitein the metropolitan area of Pocatello.
The performing arts venue’s logo will change on social media and other marketing materials before the groundbreaking ceremony on Aug. 13, Rorholm said.
Construction of the venue is expected to be completed in the spring of 2024, with the first professional production on the main stage set to open later this summer.
Naming rights are still available for the venue’s main stage, theater studio, main hall, event space, surrounding grounds and more, Rorholm said.
“There are still a lot of naming opportunities,” she said. “This building will essentially be the Spokane Valley Opera House.”