SOURCE: Ontario Technology Corridor

Ontario Technology Corridor

December 08, 2009 08:00 ET

Ubisoft's New Toronto Studio Proves Province of Ontario's Focus on Digital Entertainment Is on the Money

LYON, FRANCE--(Marketwire - December 8, 2009) - Game Connection Europe -- As Ubisoft readies its new Toronto studio for a grand opening in the first quarter of 2010, the Province of Ontario wants Europe to know that the Ontario Technology Corridor is unique in the world for its depth of talent and serious government commitment to the digital entertainment industry. France-based Ubisoft's Toronto studio is expected to create 800 jobs over the next decade. The Province of Ontario will contribute CDN$263 million to help finance the investment, which is expected to total nearly $800 million.

The Ontario Technology Corridor employs nearly 272,000 people among 6,700 companies in five urban regions, including the Greater Toronto area, Ottawa region, Waterloo region, city of London and the Niagara region. Representatives have come to Game Connection Europe to promote Ontario's abundant digital creative talent, targeted business incentives, low business taxes, European-style universal healthcare, cultural diversity, plus lower-cost, more stable housing markets than in many U.S. cities.

Gerald Pisarzowski, Vice-President Business Development with the Greater Toronto Marketing Alliance (GTMA) is one of the Ontario Technology Corridor executives attending Game Connection Europe: "The Province of Ontario is extraordinarily focused on digital entertainment, from animation to gaming to special effects software to advertainment in all its varying forms," he stated.

"Over the past decade, Ontario's entertainment and creative cluster created more than 80,000 new jobs -- an increase of 40 per cent compared to 17 per cent in the overall Ontario economy. The Ontario government, from the Premier to the Ministry of Economic Development and Trade to the Ontario Media Development Corporation (OMDC), sees the money and wants companies around the world to understand the Ontario Technology Corridor's aggressive, focused approach to building this important industry."

Evidence of Ontario's focus on digital entertainment includes:

 -- A $10 million investment to help the University of Waterloo create a
    new campus and research and innovation centre focused on global
    business and digital media, and a $9 million investment at the Ontario
    College of Art & Design to help create new digital media research and
    training programs.

 -- A 24 per cent contribution to a $107 million Digital Media & Mobile
    Accelerator located in Waterloo Region, with additional funding coming
    from private sector partners and other levels of government.
    Participating postsecondary institutions include the University of
    Waterloo and the Stratford Institute, Conestoga College, Wilfrid
    Laurier University, and Toronto's Ontario College of Art and Design.

 -- Well-established college and university programs across the Ontario
    Technology Corridor that attract employers including Electronic Arts
    Inc., Microsoft Corp., Pixar Animation Studios, The Walt Disney Co.,
    and Ubisoft.

 -- A creative sector that is estimated to contribute at least $7 billion
    from direct cultural industry contributions; when a broader range of
    culture contributions is included, that figure grows to $12.2 billion.

 -- The Ontario Media Development Corporation (OMDC), an agency of the
    Ministry of Culture, is the central catalyst for the province's
    cultural media cluster and offers the following tax incentives:

    -- Ontario Interactive Digital Media Tax Credit -- 40 per cent of
       eligible Ontario labour expenditures and eligible marketing and
       distribution expenses to create eligible interactive digital media
       products in Ontario by qualifying corporations (including foreign-
       owned Ontario corporations)
    -- Ontario Computer Animation and Special Effects Tax Credit -- 20 per
       cent of labour costs with respect to eligible computer animation and
       special effects activities by qualifying corporations (including
       foreign-owned Ontario corporations)

About the Ontario Technology Corridor:

Employing nearly 272,000 people among 6,700 companies, the Ontario Technology Corridor includes the Greater Toronto area, Ottawa region, Waterloo region, city of London and the Niagara region. The Corridor also welcomes in partnership the province of Ontario's Ministry of Economic Development and Trade as well as the federal government's Department of Foreign Affairs and International Trade Canada. The Ontario Technology Corridor offers a highly educated workforce, excellent growth opportunities, a low-risk business environment, and generous R&D tax credits that are the envy of other countries. The Corridor is supported by the Greater Toronto Marketing Alliance (GTMA), OCRI, Canada's Technology Triangle, the London Economic Development Corporation and the Niagara Economic Development Corporation. For more information, go to www.ontariotechnologycorridor.com

Contact Information

  • Ontario Technology Corridor contacts:

    Gerald Pisarzowski
    Vice-President Business Development
    Greater Toronto Marketing Alliance
    Phone: 416-843-8692
    Email: Email Contact

    Jill McCubbin
    Conversation Architect
    market2world communications inc.
    Phone: 613-256-3939
    Email: Email Contact