Latest local news, weather and high school sports from the Midlands

COLUMBIA (WACH) -- The Royal Bank of Canada will be the new sponsor for the Heritage tournament on Hilton Head Island.

Governor Nikki Haley, the PGA tour, the Heritage Classic Foundataion and RBC announced Thursday.

“This is a great day in South Carolina, and we're going to celebrate,” said Gov. Haley in a release. “We said from day one that finding a private sponsor for The Heritage was one of this administration's top priorities – because the tournament is an opportunity for us to showcase our state as one of this country's premier destinations for business and tourists – and that we shouldn't rely on taxpayers to foot the bill.”

“We are delighted that RBC, already a great partner of the PGA TOUR as title sponsor of the RBC Canadian Open, has made this significant commitment to secure The Heritage’s future,” said PGA TOUR Commissioner Tim Finchem in a statement. “I know today’s announcement is welcome news to everyone who has been involved with and supported the tournament. We are also very appreciative of Boeing’s significant support as the event’s presenting sponsor."

RBC signed on for a five year deal, through the 2016 tournament. RBC already sponsors the Canadian Open event.

The Boeing Company, which has a significant presence in Charleston, will serve as local presenting sponsor for the RBC Heritage.

“Boeing is delighted to become a part of a prestigious event with such a rich history and positive impact on the region,” said Jim Albaugh, President and CEO of Boeing Commercial Airplanes. “We’re especially pleased that the RBC Heritage will generate more than $1 million each year in support of South Carolina charities. Boeing is committed to making a difference in the communities where we work and live, and this is just one way we can demonstrate that commitment.”

The 43rd edition of the Heritage was played this past April without a sponsor after Verizon ended its involvement with the PGA tournament.

The RBC Heritage will return to its traditional week in April immediately following the Masters Tournament in 2012.

What do you think about RBC sponsoring the Heritage tournament? Leave your thoughts in the comment section below.