Tullio Now Erie Insurance

Tullio Arena in Erie, Pa., is expected to change its name to Erie Insurance Arena after a $3 million, 10-deal with the local Fortune 500 company.

The name change coincides with a $42 million renovation at the 7,400-capacity venue.

The naming rights agreement reinvigorates the project, where budget constraints eliminated luxury suites, ice-making equipment for hockey and a video scoreboard costing more than $1 million, according to the Erie Times-News.