Valero Donates $1.5M to Center for Performing Arts

SAN ANTONIO, Texas -- Valero Energy Corp. will donate $1.5 million toward construction of the Tobin Center for the Performing Arts, according to the San Antonio Express News. Construction has already begun to turn the former site of the Municipal Auditorium into a destination for local ballet, symphony and opera companies.

The Bexar County Performing Arts Center Foundation, which is behind the reconstruction effort, has now raised $34 million of the $54 million it hopes to raise. All of the dollars necessary to break ground have now been secured. The remaining $20 million, if obtained, would go toward an operating endowment, as well as a flexible floor that can slope for theater performances and lie flat for other events.

The Valero donation comes from the company's philanthropic arm, the Valero Energy Foundation. The petroleum company has made several other donations to San Antonio cultural efforts. "That's not by accident," Valero spokesman Bill Day said. "We're the leading company in San Antonio, the largest publicly traded company. We're concerned with making it a good place to live and work."

Once opened, the Tobin Center's main point of entry will be named the Valero Energy Entry Plaza.