June 11th, 2012
Cook County (your ad here): Is effort to sell naming rights worth it?
By Kate MacArthur
Facing a huge deficit and an anti-tax electorate, Cook County wants to copy Chicago and the Chicago Transit Authority by selling sponsorship rights to its properties. But generating extra cash by turning public health clinics, forest preserves and, yes, even tax bills into advertising vehicles will be hard.
Local governments are drawn to marketing deals because they have the potential to generate meaningful sums. Chicago Mayor Rahm Emanuel hopes to raise as much as $25 million from corporate sponsorships toward the city’s projected $625 million deficit. The CTA pocketed $4 million from Apple Inc. for its North/Clybourn subway station and plans to generate millions more from naming rights to 11 more rail stops.
Cook County Board President Toni Preckwinkle is shooting for a conservative $1 million from corporate marketers to help offset a $315 million budget shortfall.