The newly-expanded Winnipeg Convention Centre will now be known as the RBC Convention Centre Winnipeg.

The naming rights agreement was announced Tuesday as construction on the $181-million expansion and renovation project began on the empty parking lot on York Avenue.

"We at RBC are proud to share our brand with one of Winnipeg's most iconic meeting places," RBC regional president Rob Johnston stated in a news release.

"The convention centre is an important anchor for Winnipeg’s Sports, Hospitality, and Entertainment District [SHED]," added Mayor Sam Katz.

"I am pleased to see the work begin on the expansion of the convention centre, which will create a wonderful and vibrant welcoming place for both Winnipeggers and visitors to our city, as well as showcase our downtown."

With the expansion and renovation, Winnipeg's convention centre will double in size and extend south over York Avenue.

There will be additional underground parking and main floor public assembly space, while the third floor will feature new exhibit space that will connect to the existing building and create over 135,000 square feet of trade and consumer show space.