Yeah. It's significant to the history of the sport in Brazil.
According to everything I've read about the history of Vale Tudo ect. (The best thing recently being Dave Meltzer's tremendous history piece I just read in the Observer,) I think Salvador in Bahia would probably be the second or third most-important city historically, since that's where Vale Tudo was kept alive after it was banned in Rio, airing a prime time TV in the 60's and early 70's in the NE region, and the home territory of legends like Pereira and Gomes. I think it would be cool to have a UFC there just for the history, and it's not nearly as far away as Manaus from Rio, Sao Paulo, and Brasilia.
From Ari's interview with Feritita the other day, it sounds like they want to try to do two big events in Brazil and two "Fight Night" style events there too in the near future, so there will be plenty of places to explore options.