The Performing Arts Center’s $14 million new name

City Council approved a name change for Duke Energy Center for the Performing Arts.

The exterior of Duke Energy Center for the Performing Arts lit up at night.

Duke Energy Center for the Performing Arts has been renamed.

Courtesy of Raleigh Gov

Duke Energy Center for the Performing Arts will soon be renamed Martin Marietta Center for the Performing Arts.

Raleigh-based company Martin Marietta Materials is a public supplier of construction and heavy building materials with 500+ facilities in 28 states, Canada, and the Bahamas.

City Council approved the name change after a public hearing on Tuesday evening. In exchange for naming rights, Martin Marietta will pay the city $518,000 per year with a 3% increase annually for 20 years — a price tag that adds up to nearly $14 million. The deal is eligible for two, five-year extension terms.

This additional funding for the Performing Arts Center will be used for items like uniforms, advertising, and repairs. Most of the revenue ($316,200) will be kept in reserves.

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