Insurance provider Aviva has signed up as the naming-rights partner of the new Factory International arts and culture venue in Manchester, UK.
Terms of the deal have not been publicly disclosed, but the Guardian reported that the multi-year deal is worth £35m.
The facility, which will host a Yayoi Kusama exhibition as part of this summer’s Manchester International Festival, will open officially in October with an immersive experience based on The Matrix film series.
The sponsorship deal was struck between Aviva, Factory International and Manchester City Council.
Aviva will work closely with Factory International and Manchester City Council on a number of initiatives linked to long-term sustainability and community impact, including being the principal partner of the Factory Academy, Factory International’s skills training programme.
As part of Factory International’s affordable pricing strategy, which will see discounted tickets for those who need them, Aviva will also support its £10 ticket scheme, to be known as ‘Aviva £10 Tickets’.
“Aviva Studios, as the home of Factory International, will be a nationally and internationally important cultural attraction in the heart of Manchester,” Manchester City Council leader Bev Craig (pictured right) said. “This multi-year, multi-million-pound partnership reflects the magnitude of the venue not just for the city but for the north of England and the UK as a whole.
“This will be a momentous year for the venue as audiences experience its wow factor and enjoy inspiring art in its incredible spaces for the first time. It has undoubtedly been a challenge to create this remarkable building with its unique design against a difficult construction context, including rocketing inflation, without diluting the ambitious vision behind it.”
The venue is projected to add £1.1bn to the economy of Manchester and the surrounding region over a decade and support up to 1,500 direct and indirect jobs.
Its development is the largest investment in a national cultural project since the opening of Tate Modern in 2000, thanks to £106m of public funding from the government and Arts Council England, with additional backing from Manchester City Council.
Aviva group CEO Amanda Blanc (pictured left) added: “The new Aviva Studios will help make arts and culture more accessible and inclusive and follows the significant investment Aviva Investors has already made in Manchester, such as the development of Enterprise City.”