By Steve Tawa
PHILADELPHIA (CBS) -- Septa has unveiled the newly purchased name for its Market East train station. It's the second time in less than five years that the transit agency has sold naming rights to one of its facilities.
New signs at Market East now call that center city stop by its new name, "Jefferson Station."
The station naming rights deal is costing Thomas Jefferson University Hospital $3.9 million over five years, with two two-year renewal options that would total about $7.5 million over the nine years. The transit agency's marketing contractor, Titan, would get a 15-percent share of the total for putting together the deal.
Following his shout of "Next stop, Jefferson Station -- all aboard!" Septa general manager Joe Casey said its share of the revenue will go toward operating expenses.
"It allows us to keep fares low and helps us to improve the facilities," he said today.
Commuters and visitors will see new signage and maps designating "Jefferson Station," and electronic announcements will carry the new name to get everyone on board.
Thomas Jefferson University president Stephen Klasko says patients and families will also benefit from Jefferson shuttle buses to and from the transit station.
More than four years ago Septa sold naming rights to its Pattison Avenue subway stop in South Philadelphia to AT&T.
Casey says the transit agency would entertain other corporate offers for station naming rights.
"You look at Spring Garden -- it's a good fit for the casino there. You look at Suburban Station -- that would be a good fit," he added.
You may also be interested in these stories:
for more features.