23 December 2008

NWDA attracts new company to Northwest with Grants for Business Investment

The Northwest Regional Development Agency (NWDA) has awarded a £140,000 ‘Grants for Business Investment’ to Monumental Games, allowing the online games developer to establish a Salford base, safeguarding 23 jobs and creating an additional 32 jobs by 2010.

Originating in Nottingham, Monumental Games will use the funds to help them obtain the assets of the Swordfish Studios’ Greater Manchester office at Salford Quays, which was divested by its ultimate parent in November.

By providing a ‘Grants for Business Investment’ product the NWDA will be enhancing the creative and digital offering of the region, whilst ensuring no jobs are lost. In attracting a new company to the Northwest, the Agency is investing in the future and ensuring a further 32 jobs will be created by 2010.
Established in 2005, Monumental are one of the world's premier online game developers. With a combination of cutting-edge technology and a team comprising hundreds of man-years online experience, the company has grown steadily over time, ensuring its employees are at the heart of the company’s operations and success.
Mark Hughes, Executive Director of Economic Development at the Northwest Regional Development Agency (NWDA) said:

“In today’s tough economic climate, the NWDA continues to ensure the future capabilities of the region’s key sectors. In securing 23 jobs within the digital and creative sector, we are able look ahead and assist with the future growth of this significant industry.

“Monumental Games have a sound business sense, with employee development at the heart of their operations. We look forward to working with the company in the future and assisting their senior management team with both short and long term priorities.”

Paul Mayze, Chief Operating Officer for Monumental Games said:

“We have been grateful for the enabling support from NWDA and their recognition that prospects for this sector remain favourable even in an economic downturn. Their investment in the region is commendable and we look forward to working with them over time to exceed even our own expectations for growth.” 

For more information on finance for business, visit: www.nwda.co.uk/finance

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Notes to editors:

For further information please contact Shelley Tattersall, Press Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk
For urgent out of hours press enquiries please call 01925 400259.
For further information and to view previous press releases visit us at www.nwda.co.uk/press

The NWDA is supporting businesses and prioritising investments to ensure that the Northwest is in a strong position to respond to the current economic climate.  Initiatives include:

• The launch of a £10m High Growth business support programme 
• A new £4m Innovation Voucher Scheme to help 1,000 businesses work with our knowledge base 
• Dedicated Access to Finance support within Business Link Northwest – now available
• £140m Venture Capital Loan Fund (VCLF) - to be launched in 2009
• £40m package of support to stimulate investment in priority skills development - to commence in 2009
• 10 day prompt-payment pledge to our suppliers to help with cash-flow
 
For more information, see nwda.co.uk/business

The Northwest Regional Development Agency (NWDA) leads the economic development and regeneration of England's Northwest and is responsible for:

• Supporting business growth and encouraging investment
• Matching skills provision to employer needs
• Creating the conditions for economic growth
• Connecting the region through effective transport and communication infrastructure
• Promoting the region’s outstanding quality of life