DEAR EDITOR:
One ignored source of revenue for the Port Authority is to sell naming rights for airports, train stations, bridges, tunnels, etc. sports teams see the great opportunity for the naming rights of their arenas and a recent example was the most recent super bowl location Levi’s Stadium, for which the naming rights were sold prior to construction completion for $220 million over the course of 20 years. This is an available revenue stream for governments, and local port authorities that is not being realized. These public locations have even more marketing value than stadiums because of the sheer number of people which pass through them every day, the football stadium will host 10-15 events a year compared to the daily exposure of the transportation infrastructure.
These naming rights could help to offset the significant maintenance costs and help curb the tolls and taxes paid by the people. There is no good reason not to take advantage of this untapped resource, this is the time to think outside of the box and learn a lesson from profitable private businesses.
Felice Logrippo