Franklin County Convention Facilities Authority Advances Plan to Fund $400 million Renovation and Modernization of Nationwide Arena

COLUMBUS, OH – The Franklin County Convention Facility Authority (FCCFA) is advancing a plan to fund the $400 million renovation and modernization of Nationwide Arena proposed earlier this year. The FCCFA is the public authority that owns Nationwide Arena, the Greater Columbus Convention Center and Hilton Columbus Downtown. Nationwide Arena celebrated its 25th anniversary this year, and new investment is needed to improve the facility, enhance the fan experience, and to remain competitive for top sports and entertainment events.

“Nationwide Arena has been a great place to watch a game or enjoy an event for 25 years, and the time has come to reinvest in our community’s arena,” said Ken Paul, FCCFA Executive Director. “Modernizing the building is essential to stay competitive, meet the expectations of today’s fans, and ensure our Arena continues to serve Columbus well into the future.”

The funding model proposed by the FCCFA includes new private investment combined with additional public support from the State of Ohio, Franklin County, and the City of Columbus. The FCCFA will apply for up to $100 million from the state fund dedicated to sports-facility improvements and plans to issue more than $100 million in public bonds for the project. The Authority is also requesting $25 million each from the City of Columbus and Franklin County. The remaining balance of the project cost, not to exceed $400 million, will be privately funded.

“Nationwide Arena was built entirely with private funds, and since 2012, it has been owned and maintained with public support. This proposal continues the public–private partnership that has sustained the Arena as a vital community asset for 25 years. Through continued shared investment, we can ensure the Arena remains competitive for years to come,” said Paul.

The FCCFA also intends to issue bonds to settle the outstanding balance on the loan used to purchase Nationwide Arena, and to reinvest interest savings into the project. Bonds would also pay for the acquisition of the adjacent office building that will connect to the Arena as part of the project. Rent payments from the office building will help cover debt service, but the FCCFA is proposing to back most of the new bonds with an increased share of state casino tax revenue and an increase in the admission tax charged at events at Nationwide Arena.

“For more than a decade, the FCCFA has received casino tax revenue from the City and County, and since 2019, the Arena has benefited from a share of the admission tax,” said Paul. “Our proposal simply adjusts the revenue we already receive. By increasing the cap on casino tax allocations and raising the admission tax at the Arena, we can reinvest in the building with no new taxes and with minimal impact on funding for other community priorities – ensuring that those who benefit most from the improvements help pay for them.”

The FCCFA is requesting that the City of Columbus increase the admissions tax by 2% for events at Nationwide Arena only. The admissions tax on all other venues would remain unchanged and continue to support cultural arts. The FCCFA is also proposing the City and Franklin County increase the annual share of state casino taxes dedicated to the Arena from 32% to 50% over four years. The projected impact on the City and County 2026 budget is less than $500,000, respectively. The $25 million direct investment from both the City and County could be distributed over multiple years to ease the budget impact in any single year and minimize effects on other funding priorities.

“Our proposal ensures that the necessary reinvestment in this public facility does not come at the expense of other community priorities, especially at a time when resources are constrained and the needs across Columbus are many,” said Paul. “By advancing this proposal today, we avoid higher costs in the future, and by reinvesting in the Arena now, we are investing in a business district that generates the tax revenue supporting many of our most important community priorities, including public safety and human services.”

The first steps in advancing the proposal could come before the end of the year. Columbus City Council and the Franklin County Board of Commissioners will be asked to adjust the schedule of casino tax allocations, and City Council could also consider legislation to honor the FCCFA’s request to increase the admissions tax at Nationwide Arena. Neither the City nor County will be asked to consider direct capital investment in the project this year, and the issuance of public bonds by the FCCFA is subject to future approval by both the City and County, contingent on state funding support and additional private investment in the project.

About The Franklin County Convention Facilities Authority
The Franklin County Convention Facilities Authority (FCCFA) is an independent public entity established to finance, develop, and manage world-class facilities that drive the region’s travel economy. The FCCFA owns and oversees the Greater Columbus Convention Center, Hilton Columbus Downtown, Nationwide Arena, and six parking facilities, and is the steward of $1.1 billion in public obligations. While FCCFA operations are largely self-sustaining, public resources, including hotel tax receipts, are reinvested into maintaining, modernizing, and expanding facilities that bring our community together and keep Columbus competitive on the national stage.