RBC Bank named new Heritage golf tourney sponsor

RBC Bank has inked a contract to become the new title sponsor of the Heritage golf tournament through 2016, The PGA Tour, Heritage Classic Foundation and RBC announced Thursday.

The announcement was made during a news conference on the tournament’s home, Hilton Head Island. “This is a great day in South Carolina, and we’re going to celebrate,” stated Governor Nikki Haley in a press release.

The new agreement gives the tournament a new name — the RBC Heritage — and fills the void that was left when Verizon ended 24 years of Heritage sponsorship after the 2010 tournament.

In keeping with tradition, the 2012 tournament will take place in April the week after the Masters Tournament. The Heritage has been vital to South Carolina’s culture and economy since 1969, when it debuted at the Harbour Town Golf Links. It raises about $1 million for charity annually, and according to Clemson University 2010 data, generates about $82 million for the local economy each year.

As part of the five-year deal, RBC will promote its financial services on TV and, together with the Heritage Classic Foundation, pour millions of dollars into the state’s economy and South Carolina charities.

“We have weathered a very difficult time of uncertainty and speculation, but now can definitively say that the RBC Heritage will remain an important part of the PGA Tour and our state, and will continue to generate millions of dollars for our economy and for charities in the years to come,” said Simon Fraser, chairman of the Heritage Classic Foundation.

In addition to RBC’s title sponsorship, The Boeing Company, which has a significant presence in Charleston, S.C., will serve as local presenting sponsor for the tournament.