The director of business development of Dundee, Scotland-based Abertay University appeared before a House of Commons committee in order to discuss the economic impact of the region’s videogame industry.
Paul Durrant, according to the Courier, lobbied for tax credits for the industry and claimed that it was “vital” for the industry to generate private investment. Durrant stated, “We continue to strongly support the industry's calls for games tax relief, but we also recognise the important role of other support mechanisms, including ways to incentivise private sector project finance.”
In lieu of the UK’s Coalition Government killing a tax relief initiative for game developers, the Scottish Affairs Committee launched a full parliamentary inquiry and visited Abertay. The House of Commons hearing was for the committee to hear what kinds of backing the game industry needs in order to fuel growth.
Abertay requires a strong Scottish videogame development region to support its graduates. The University gives back to the gaming community by supporting incubation facilities on campus. Two such companies, Play2Improve and YoYo Games, are currently based at the school as they attempt to advance past the startup stage.
Play2Improve’s CEO Matt Seeney said, “As a small company preparing to launch a new product this year, being based within Abertay has been a substantial help.”
YoYo Games head Sandy Duncan added:
The games industry has great potential, but for growth to be sustained over the next five to 10 years requires support for mid-sized project finance. We believe that investment tax relief for companies turning over less than £10 million a year would be a substantial boost.
The university’s full submission to the committee can be viewed here.