Raleigh Convention Center now officially Atlantic Union Bank Convention Center

The Raleigh Convention Center officially changed its name during a ceremony Thursday morning.

The venue will become the "Atlantic Union Bank Convention Center." The center has hosted Wake County high school graduations, concerts and conferences.

During Thursday morning's ceremony, Atlantic Union Bank and the Convention Center team celebrated its new partnership and expressed its commitment to continue to grow and serve the Raleigh community.

Atlantic Union Bank purchased the naming rights for the building for the next 15 years. It agreed to pay the city more than $500,000 upfront for the naming rights, and that annual fee would increase by 2% every year across the 15-year term.

This also comes as the convention center undergoes a nearly 300,000-square-foot expansion.

The center will add new ballrooms and meeting rooms. Construction is scheduled to begin at the end of this year and be complete in 2029.