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| The Factory Manchester £110m arts venue discussed | The Factory Manchester £110m arts venue discussed |
| (about 5 hours later) | |
| Plans for a new £110m theatre and arts venue at the former site of Granada TV studios in Manchester will be discussed by the city's council later. | Plans for a new £110m theatre and arts venue at the former site of Granada TV studios in Manchester will be discussed by the city's council later. |
| The Chancellor George Osborne pledged £78m for The Factory Manchester in the 2014 Autumn Statement as part of the northern powerhouse scheme. | The Chancellor George Osborne pledged £78m for The Factory Manchester in the 2014 Autumn Statement as part of the northern powerhouse scheme. |
| The 5,000-capacity venue is scheduled to open by summer 2019, but needs £32m from the local authority. | The 5,000-capacity venue is scheduled to open by summer 2019, but needs £32m from the local authority. |
| Councillors have been recommended to endorse the proposal. | Councillors have been recommended to endorse the proposal. |
| The council said culture would be a "key ingredient" in making Manchester the most visited city in England outside London. | |
| Leader of Manchester City Council, Sir Richard Leese, said: "The significance of The Factory cannot be overstated. | Leader of Manchester City Council, Sir Richard Leese, said: "The significance of The Factory cannot be overstated. |
| "It will be internationally significant, the cultural anchor for the next phase of economic and cultural regeneration in Manchester, Greater Manchester and beyond. | "It will be internationally significant, the cultural anchor for the next phase of economic and cultural regeneration in Manchester, Greater Manchester and beyond. |
| "It will help power Manchester and the wider region towards becoming a genuine cultural and economic counterbalance to London." | "It will help power Manchester and the wider region towards becoming a genuine cultural and economic counterbalance to London." |
| Analysis: Ian Youngs, BBC arts reporter | Analysis: Ian Youngs, BBC arts reporter |
| The Factory is designed to be in a different league to Manchester's other arts venues. It is intended to be a major global venue that happens to be in Manchester instead of London or New York or Berlin. | The Factory is designed to be in a different league to Manchester's other arts venues. It is intended to be a major global venue that happens to be in Manchester instead of London or New York or Berlin. |
| It is also hoped it will boost the local economy, create jobs, bolster the so-called northern powerhouse and provide training. | It is also hoped it will boost the local economy, create jobs, bolster the so-called northern powerhouse and provide training. |
| But the required money would be a huge amount in any financial climate. It will need £10m a year of public money to run. Where will that come from? | But the required money would be a huge amount in any financial climate. It will need £10m a year of public money to run. Where will that come from? |
| Will there be the audience to fill a 5,000-capacity building night in, night out? And will it appeal beyond the culture vultures to the majority of Manchester? | Will there be the audience to fill a 5,000-capacity building night in, night out? And will it appeal beyond the culture vultures to the majority of Manchester? |
| These things will determine whether it becomes a cultural powerhouse or a white elephant. | These things will determine whether it becomes a cultural powerhouse or a white elephant. |
| It will be located in a new area, St John's, which includes the former Granada Studios site in Manchester city centre. | It will be located in a new area, St John's, which includes the former Granada Studios site in Manchester city centre. |
| The former Coronation Street set, which has been hosting visitor tours since April 2014, will be removed in early 2016 before the site is returned to developer Allied London. | The former Coronation Street set, which has been hosting visitor tours since April 2014, will be removed in early 2016 before the site is returned to developer Allied London. |