The UBS Arena in Belmont Park in Elmont, New York, is slated to open for the 2021/22 season of the National Hockey League (NHL).
The big bank has secured the exclusive right to name the most modern sports and event facility in the metropolitan region and the future stadium of the New York Islanders for 20 years. The UBS Arena is slated to open for the 2021/22 season of the National Hockey League (NHL).
According to UBS, the extensive renovation project, which is estimated at over 1.5 billion US dollars, generates economic activity of around 25 billion US dollars, as well as infrastructure improvements and 10,000 jobs in the construction industry. It also includes 3,000 full-time positions, 30 percent of which are to be reserved for residents.
Tom Naratil, Co-President UBS Global Wealth Management und President UBS Americas, zur UBS Arena:
Who should benefit from the stadium and UBS’s involvement
UBS is convinced that the entire region and various groups will benefit from the new event palace and stadium, and goes into detail:
The $ 1.5 billion private investment in the arena and the surrounding neighborhoods will boost the regional economy after its decline in connection with the COVID-19 pandemic, UBS writes. In addition, the UBS Arena should also provide urgently needed impetus for the economy in New York and the surrounding area, with 30 percent of permanent positions reserved for workers from the surrounding area. 30 percent of the contract money for the construction, according to UBS, is intended for state-certified minority and women’s companies and six percent for companies run by veterans with limited working capacity. Additional investments in traffic and infrastructure amounting to 100 million US dollars are expected to benefit residents and visitors in the coming decades.
Jon Ledecky, Co-owner of the New York Islanders, affirms the benefits beyond ice hockey, sports and events:
In addition, according to the major bank, the UBS Arena project will also make a significant investment in philanthropic activities, which are intended to promote economic development and strengthen the local community. A key focus should be on improving school and career entry opportunities for local young people. For example, programs for post-secondary education and entrepreneurship will be offered – both of which have long been cornerstones of UBS’s social responsibility in the Americas, as UBS points out.
What does UBS get for its commitment?
In addition to the right to name the arena, the contract with UBS also includes special elements such as permanent outside lettering, entitlement to the largest private hospitality room in the arena and the concise UBS logo on the roof, on the ice rink and in other positions throughout the venue. According to the bank, both clients and employees of UBS can take advantage of extensive VIP opportunities.