Glasgow's Regeneration Agency – which was formed from five local development organisations in 2011 – is now called Jobs & Business Glasgow.
The quango paid just £5000 to develop the new name and change its website. However, it parted with another £25,600 respectively to rebrand and remove signs on its current and vacant premises.
Bosses insist they had to make the change.
A spokeswoman said: "We resisted a corporate rebranding exercise and continued to operate under the identity of the five multiple organisations for two years following the transition to one organisation.
"However, following a review of operations, which included extensive consultations with users and stakeholders, it became clear a name change and rebranding process was vital.
"The review found that continuing to operate as five separate GRA agencies had led to confusing messages across the city, with distorted communications and a weakened association to the agency's brand."
The spokeswoman also defended the costs – a total of £31,050 plus VAT.
She said: "This rebranding exercise represents excellent value for money and puts the organisation on a firm footing to continue delivering for the people and businesses of the city."
GRA has had a difficult birth. Its first year saw the annual deficit the former group of five regeneration agencies suffered reduced from £2.1m at the end of March 2011 to £1.2million at the end of March 2012.
In annual accounts, the agency the 2011-12 financial year had been "extremely challenging".
One of the key achievements was cutting its management, from 116 posts to 39, so saving £2.3m.
This included the high-profile early retirement of Ronnie Saez, former chief executive of Glasgow East Regeneration Agency. Mr Saez received an overall package worth £500,000.
Scotland's charities watchdog has ruled this generous pay-off amounted to misconduct.
The agency, however, today said it was moving on to a much sounder financial footing.
The spokeswoman said: "Over the last two years chief executive Calum Graham has led an accelerated reform programme that has significantly reduced the organisation's cost base by 35%.
"In one year alone, £17m of savings were achieved, with reduced management costs of nearly £3m every year."
The quango feels its new identity reflects exactly what it does.
The spokeswoman said: "Jobs & Business Glasgow has helped thousands of Glaswegians find employment and helped create hundreds of jobs in new businesses."