The UK’s Northwest Vision and Media (NWVM) will receive over $4.4 million (£2.7m) of funding from the Northwest European Regional Development Fund (ERDF).

The funding comes after the agency was appointed to lead, support and promote the creative and digital industries in the area by the Northwest Regional Development Agency (NRDA). It gave NWVM over $5m (£3m) to support the decision.

Alice Morrison, chief executive of NWVM, said the funding would be used “to help grow businesses and encourage innovation and collaboration, particularly in this difficult climate.”

NWVM has also announced that it will move from its current office on Oxford Road in Manchester to MediaCityUK, Salford Quays in autumn of this year. The agency will join other tenants such as the BBC and the University of Salford.