RunVermont Announces People’s United Bank as New Vermont City Marathon Title Sponsor
Burlington, Vermont (September 22, 2014) – RunVermont is pleased to introduce People’s United Bank as the new title sponsor for the Vermont City Marathon. Beginning today, the marathon will be known as the People’s United Bank Vermont City Marathon.
“RunVermont is excited to be partnering with People’s United Bank as we look to the future,” says RunVermont Board Chair Kevin Dwyer. “We think the partnership is a strong fit with the marathon’s demographic footprint, the shared commitment to community, and the enthusiasm to create a healthy lifestyle. This partnership will leverage the network of People’s United Bank throughout the northeast states and also bring the awareness of the event to a new level within the region.”
“We are thrilled to take on the role of title sponsor of the Vermont City Marathon & Relay beginning in 2015. Through strong partnerships and the hard work of the RunVT staff, this event has grown to be an important milestone kicking off our Vermont summers,” said Michael Seaver, Vermont President – People’s United Bank. “With our locations throughout New England and New York, we hope to bring much more regional awareness and growth to the marathon.”
The partnership grew out of the marathon’s need to compete in an ever-tightening market for “destination marathons” and People’s United Bank’s position as a New England based institution.
“At RunVermont, we see that market conditions and competitive influences are offering today’s runners many more choices and we have to be prepared to meet those challenges,” says Executive Director Peter Delaney. “Consequently, our team opened our discussions up to potential new sponsors, and in the final evaluation decided that a change would provide new opportunities.”
According to Running USA, the number of marathons in the United States grew from 300 in the year 2000 to more than 1100 in 2013. Vermont alone has seen the number of marathons in state double from 2 to 4 since 2009.
“Marathons have evolved, and staying ahead of the pack requires not only our traditional approach to creating a great course with supportive volunteers and spectators, but also new ways of targeting marketing and race promotion,” says Delaney. “Beginning with our 2015 event, we think people will begin to see how we’re strengthening the future of this marathon and all of RunVermont’s events.”
In 2014, Vermont City Marathon attracted 3100 marathoners, 5100 relay runners and more than 1700 volunteers to Burlington. The event is now the centerpiece of a weekend that also includes the Sport & Fitness Expo and the MVP Health Care Yam Scram Youth Running Festival. The combination of all activities associated with the Vermont City Marathon brings an estimated economic boost of $3.5M to the local economy every year.
Based in Connecticut, People’s United Bank is a subsidiary of People’s United Financial, Inc., a diversified financial services company with $33 billion in assets. People’s United Bank, founded in 1842, is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of over 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. Jack Barnes is President and Chief Executive Officer of People’s United Bank. He is a graduate of Northeastern University and received his MBA from the University of Vermont. Jack, among several other senior leaders reside in Vermont.
RunVermont is a non-profit 501(c)(3) organization committed to the promotion of running as a life-long activity through complementary programs that celebrate the athletic spirit, are recognized nationally, and embrace the Vermont community. In addition to its premier Memorial Day weekend events, RunVermont presents the FirstRun Burlington 5k each January 1st; the Half Unplugged half marathon in the spring; Ready, Set, Run spring and summer youth running programs; and consulting, timing and race services support for other Vermont running events.