The Canadian province Newfoundland and Labrador has granted $300,000 to a Huntsville, Alabama-based videogame development company in order to aid it in setting up a studio in the Great White North.
Bit Trap Studios Canada is developing multiplayer online games and expects its game and online portal to be released in the next three to four years. It’s anticipated that Bit Trap Canada will infuse an estimated $1.6 million into the local economy as it creates its projects. The company expects to employ at least 18 people in its Canadian office.
A government news release indicated that the $300,000—which is forgivable if certain goals are met—was made via the Business Attraction Fund, and is “provided in the form of payroll rebates.”
Minister of Business Ross Wiseman stated:
Video game development is an exciting, high-growth global industry, with young, creative and entrepreneurial minds leading the charge. Building this sector in Newfoundland and Labrador will add to our tremendous talent base and generate new business, skills, and employment in the province.
Bit Trap Studios Canada President Matthew Newhook added, “We are pleased to have access to the Provincial Government’s flexible programs and to have them as a valued partner to support our efforts.”
