Manchester's revamped Museum of Science and Industry will generate £4.1m additional GVA for the city's economy, the museum claims.
The museum, which is free to visit, hopes to increase income from doing more corporate conference business and attracting additional visitors. The newly created Revolution Manchester gallery opened to the public at the weekend.
See gallery from launch party below
The economic impact assessment report written by Regeneris Consulting during the grant application bid for funding from the North West Development Agency shows 97 additional full-time equivalent jobs – taking the total supported by MOSI to 427 – will be created by the redeveloped gallery and visitor numbers will rise from 408,000 to 885,100 a year.
Regeneris said the £4.1m net additional GVA generated by the redevelopment would take the museum's GVA contribution to £18.1m, equivalent to more than £49,000 a day.
Visitors spend directly in the museum shop and cafe and indirectly outside the museum on shops, catering, transport and accommodation. The additional work created by the supply chain of sub-contractors to the museum is also included in the calculation.
The £9m redevelopment project was supported by various funders:
- £2m North West Development Agency
- £2m European Regional Development Fund
- £1.6m Department for Culture, Media and Sport
- £1m Garfield Weston Foundation
- £300,000 SITA Trust
- £250,000 Monument Trust
- £200,000 Wolfson Foundation
- £34,000 NEC Display Solutions
Further donations and sponsorships were made by Biffaward, Martin & Judith Ainscough Charity Trust, Oglesby Charitable Trust, Modern History, Kirby Laing Foundation, Manchester Carbon Innovation Fund, WO Street Charitable Foundation, Zochonis Charitable Trust, Waters Corporation, Renold, Siemens, Access, Radisson Edwardian Manchester.
Click image to launch gallery