Gateshead, UK-based racing specialists Eutechnyx announced it has received £1.8 million ($2.8 million) from the UK government's regional growth fund, which it will use to help grow the company.
Gateshead, UK-based racing specialists Eutechnyx (NASCAR 2011) has received £1.8 million ($2.8 million) from the UK government's regional growth fund. The company says it will use the funds to help launch its upcoming Auto Club Revolution and add up to 190 jobs to its current staff of over 180. "The Government is investing in companies and projects to help them grow and create the jobs we need," UK Creative Industries minister Ed Vaizey said in a statement. "Auto Club Revolution is an exciting project that promises to add to the UK’s highly successful video games sector." "We need to be doing all we can to enable businesses and organizations to create much needed jobs and inject private investment into the economy," added UK business secretary Vince Cable. "This is a very significant boost to local communities and the Regional Growth Fund will help businesses to drive local growth." The new funds come on top of £6 million ($9.57 million) in previous funding for Auto Club Revolution from Prime Ventures and the North East Accelerator Fund. UK industry trade group TIGA has recently begun lobbying the Scottish government to create a game development fund that would provide up to £100,000 in loans to worthwhile, locally developed projects. Besides the UK headquarters, Eutechnyx has offices in Chengdu, Hong Kong and Pittsburgh, the last of which was opened in 2009. The company is also considering opening a studio in Dundee, Scotland in the wake of this summer's closure of Dundee-based Realtime Worlds.
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