Published: Oct 27, 2011 5:51 PM EDT
Updated: Oct 27, 2011 10:51 PM EDT

NAPLES, Fla.- A premier golf event is coming to Naples. The LPGA made the announcement Thursday morning at TwinEagles Golf Club.

The LPGA. commissioner announced they will bring their season-ending event to TwinEagles starting in 2012. They're calling it the CME. Group Titleholders event, meaning the best female golfers in the world will compete all season long to make it into this culminating event here in Naples.

Michael Whan, LPGA Commissioner, says, "for those of you who don't follow us very closely. We're not bringing an event on the LPGA schedule to Naples, we're bringing a premier, end of the season, never been done before concept to Naples next year."

Not only will an event of this caliber have an impact on the local economy, but it's a great opportunity to showcase Naples and all it has to offer.

TwinEagles General Manager Dick McPhail says "it's huge for Naples and it's huge for ladies golf in Naples. I can't think of another community in town that has more lady golfers than Naples."

The field will consist of the top three qualifiers from every LPGA event over the course of the season. The concept, new this year, is already a big hit with players.

LPGA Professional Stacy Lewis says, "the purse and the tour championship and everyone wants to get there. If you're in that event it means you have had a good year."

Golfers will be playing for half a million dollars. That's the second largest purse on the LPGA, only behind the Women's US Open.

McPhail says he's confident an event of this caliber will be on par with what spectators and golfers in the community have come to expect.

"It's huge. It's going to drive our economy for a couple weeks for that time period in November," says McPhail.

This will be the third marquee golf event to take place here in Naples. Greg Norman's Shark Shootout is at Tiburon in December. In February, TwinEagles will host the ACE Group Classic of the Champions Tour and starting November 15-18, 2012 TwinEagles will host the new LPGA event.