User blog comment:123BC/Star City's name/@comment-27673963-20171215124843

At the end of Season 3, Palmer Tech blew up and Ray Palmer was presumed dead, they changed the name for two reasons;

1. To pay tribute to a major billionaire (He always called it Star City)

2. It was part of an attempt to revitalise the city after the terrorist attacks from Malcolm, Slade and Ra's