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Manchester place will be called Co-op Live after the retail giant partnered with Oak View Group (OVG) to expand an Etihad campus.
Approximately 3,300 jobs and 1,000 operational posts will be created.
Co-op Live will be one of the world’s concert and music venues, rivaling New York’s Madison Square Garden, the company said.
Plans for the arena have already been approved through Manchester City Council, which will continue the regeneration of the Eastlands domain that began with the 2002 Commonwealth Games.
The cooperative said it would implement the arena learning program and provide direct employment opportunities to the retailer’s six secondary and university academies in Greater Manchester.
Steve Murrells, managing director of the cooperative group, said: “The entertainment arena brings to life the cooperative difference and our vision of cooperating for a fairer world, since its sustainable construction is for communities, 0 food waste. And exclusive to members. Benefits
“Possibly not only would it thrill the audience, but whenever other people see a live act, they will do so intelligently in local communities across the UK. “
Jo Whitfield, CEO of Co-op Food, said: “Ethics is at the heart of the cooperative and we are proud that one of the world’s greenest and most social places is named after us.
“This will bring millions of pounds back to local communities and smart reasons and we’ll facilitate entertainment for our members with exclusive tickets and pre-sales. “
“The coronavirus pandemic is having a significant effect and our multi-million pound investment is a sign of our long-term goal of the region, creating jobs and helping to organize some of the world’s most productive occasions in Manchester. “
Tim Leiweke, Managing Director of Oak View Group (OVG), said: “We are very happy with this partnership and sign up for the Co-op team in building the new world-class arena Manchester deserves.
“Our partnership goes far beyond a general naming rights agreement. Shared values will shape the ethics of the place, adding ambitious commitments to sustainability and community.
OVG expects to host its first event at the new headquarters in 2023.
The allocation will begin to create more than 3,000 jobs over a three-year era of structure and generate approximately 6,000 more jobs in Greater Manchester.
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