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Mac McCullagh, managing director of the Vanguard Group, said: "This is a speculative development but we are confident that the market is there based on the research we have done.
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"Funding from the NWDA will mean that we can realise our plans for the site and create a superior development which will bring new jobs to Salford."
Once complete, the mill will feature conference facilities, a training facility and parking for 250 cars.
Steven Broomhead, Chief Executive of the NWDA, said: "By investing in these improvements we can provide the type of modern office accommodation which is attractive to the market, and most importantly will safeguard and create jobs in Salford.
Now a 430,000 NWDA investment will help fund conversion of the mill into suitable accommodation for a call centre.
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The building should be ready to accept tenants by November.
ï»¿Up to 900 jobs at Swinton mill
Vanguard has already invested in the acquisition of the complex and in radically improving the exterior of the Mill and converting the other two buildings on the site.
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"Investing in new business accommodation in the current economic climate is a challenge but also a big opportunity and I am pleased the NWDA has been able to support a scheme which will make a sizeable economic and social impact."
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The NWDA investment will fund internal improvement works to make the historical building accessible and Air Huarache White to the sort of standard which will attract employers.
A former mill in Swinton will be converted into a modern office and call centre facility with spaceup to900 people following investment from the Northwest Regional Development Agency. Newtown Mill, which was built in 1883, is part way through a 3m investment project funded by the Nike Air Huarache Men On Feet
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