Factory costs rise higher

Escalating building costs for The Factory, Manchester's new arts centre, have left the Council with a further bill of £10m as a result of inflation within the construction sector. The Council's budgeted £21.6m contribution to the scheme has now risen to around £50m. Estimates suggest The Factory will deliver economic benefits of £1.1bn over a decade and create 1,500 new jobs, but the project is running late, having been due to open for last year’s Manchester International Festival.