The Caltrain Board of Directors awarded Elevate Sports Ventures, LLC of Santa Clara with a consulting contract to manage the agency’s naming rights opportunities. Following the March 2019 Board approval of the Caltrain Naming Rights Policy, working with Elevate will enable Caltrain to enter into partnerships that could allow the agency to provide additional amenities to riders and supplement revenue without raising fares as the launch of expanded electrified service approaches.
Elevate will assist with the identification and evaluation of potential naming rights assets, create near- and long-term marketing and sales plans, and guide Caltrain through the sales and negotiation process. Final executed agreements are subject to Board approval.
Many other transit agencies across the country have adopted similar policies and entered into successful naming agreements, including the Transbay Joint Powers Authority. Through the sale of naming rights, these agencies have been able to secure revenues ranging from $200,000 to over $1,000,000 annually.
Caltrain does not have a dedicated source of funding, instead relying on voluntary contributions from its member agencies and fares.
About Caltrain: Owned and operated by the Peninsula Corridor Joint Powers Board, Caltrain provides commuter rail service from San Francisco to San Jose, with commute service to Gilroy. While the Joint Powers Board assumed operating responsibilities for the service in 1992, the railroad celebrated 150 years of continuous passenger service in 2014. Planning for the next 150 years of Peninsula rail service, Caltrain is on pace to electrify the corridor, reduce diesel emissions by 97 percent by 2040 and add more service to more stations.