Metro plans to sell naming rights for the Innovation Center Metro Station in Herndon, which is part of the extension to the Silver Line into Loudoun County.
The organization’s board will vote on Thursday to allow a Fortune Global 500 Company to sponsor and rename the Innovation Center Metro Station, according to meeting materials.
“A unique and time-sensitive opportunity has arisen where a Fortune Global 500 Company, currently in negotiations to lease headquarters adjacent to the new Innovation Center Metro station has expressed interest in being the corporate sponsor for this new station,” the Metro documents said.
Innovation Center is east of Virginia Route 28 near Sunrise Valley Drive and Innovation Avenue.
The move is part of the organization’s attempt to offset revenue lost from ridership declines.
Selling naming rights would be part of a one-time deal. WTOP’s Max Smith reports that a change to explicitly allow other deals is likely in the next few months.