CHATTANOOGA, Tenn. -- CHI Memorial Hospital was announced as the naming rights sponsor for Tennessee’s first professional soccer stadium in a press conference on Thursday afternoon. The newly named stadium will be home to USL League One club Chattanooga Red Wolves SC and, upon opening, will be the first professional soccer-specific stadium in the state of Tennessee.

“CHI Memorial is a great fit for this partnership,” said stadium developer and Chattanooga Red Wolves Owner Bob Martino. “They share our values and vision for the area and consistently demonstrate a philanthropic commitment to bringing people together and building community. It has been important to us to privately fund the stadium so public funding can go towards supporting public schools and city infrastructure. Major partnerships like this make that possible. We look forward to joining their mission of encouraging a stronger, more connected community.”

CHI Memorial Stadium will host Chattanooga Red Wolves SC, the Chattanooga Lady Red Wolves, the Dalton Red Wolves, exhibitions, and college matches. The stadium will also host year-round non-sporting events such as festivals, concerts, family-friendly activities, and community gatherings.

“We are excited to be able to contribute not only to the appreciation and growth of soccer, but to the community as a whole,” said Janelle Reilly, CEO of CHI Memorial Hospital. “We’ve been fans of this project since its inception and are excited to take our dedication to health and wellness to the next level through this new partnership.”

The 5,500-seat stadium will be a state-of-the-art, soccer-specific facility and will include sky suites, concessions, staff offices, locker rooms, and meeting spaces. Players and staff will have access to five locker rooms, a film room, a satellite gym, a physical therapy and recovery room, coaching offices, and a dining hall.

CHI Memorial Stadium will serve as the anchor of the $125 million development in East Ridge, Tennessee. The development is expected to create more than 1,000 new jobs and millions of dollars of investment into Hamilton County. When the construction is complete, the economic halo effect is expected to generate between $6 and $7 million in tax revenue each year.

“This partnership continues to elevate the single largest private investment and economic boost in the history of East Ridge,” said East Ridge Mayor Brian Williams. “We very much appreciate their decision to invest not only in East Ridge, but Hamilton County and the state of Tennessee. Their decision has inspired other local and national companies to choose East Ridge for future investments all while utilizing private funds to do so. Today, we thank them for their shared vision and leadership.”

CHI Memorial Stadium is expected to host the Chattanooga Red Wolves during the upcoming USL League One season. The Red Wolves open their season on the road, taking on Greenville Triumph SC on Friday, March 27.