JBS offers $1M to expand Greeley’s Island Grove Arena for naming rights

GREELEY — JBS USA Inc. is offering to foot the majority of the cost of building a new music stage at Island Grove Arena for use during the Greeley Stampede in exchange for prime naming rights. According to Greeley City Council documents, the meat-packer said it is willing to spend $1 million to construct a permanent stage at the east end of the area which has hosted the Greeley Stampede in time for the 2021 events during late June and early July. City officials have already earmarked $500,000 for the project out of public coffers. Stampede general manager Justin Wasada said the entire project is estimated at $2.1 million, and the remaining $600,000 would be paid for via smaller private donations or out of the Stampede’s pocket. The deal would give JBS naming rights through when the Stampede’s lease ends in 2049, or beyond if the city renews that lease. The Greeley Stampede is an annual rodeo and music festival that was slated for its 99th edition this year, but was cancelled in April as Colorado and much of the U.S. was under stay-at-home orders due to the worsening coronavirus pandemic. Visit Greeley, the city’s tourism authority, estimates that the event creates $30 million in economic impact for the city annually. The City Council is due to hear the proposal during its meeting Tuesday night.
Source: BizWest