Techvibes contributor Eric Floresca recently informed the Canadian tech community about Ubisoft‘s new Toronto location. That announcement is just a part of the growing area known as the Ontario Technology Corridor. This technology and digital cluster is the third largest in North America by employment, after California and New York, and is growing at a remarkabnle rate of 38% per year.
Professor Richard Florida, in his report “Ontario in the Creative Age” stated, “A handful of cities – from London through Kitchener-Waterloo through Toronto and Ottawa – together comprise one of the world’s largest economic mega-regions that helps make Ontario one of the most advanced and productive jurisdictions on earth.”
The Ontario Technology Corridor is unique in the world for a variety of reasons. First, is it’s depth of smart talent. This is attributed to the great talent that the area’s colleges and university’s annually churn out. The second is the province’s serious committment to the digital entertainment industry.
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 very competitive tax credits.
The Ontario Technology Corridor employs 272,000 people over 6,700 companies. A delegation from the Ontario Technology Corridor is now attending the Game Connection Europe Event in Lyon, France to tout the strength and viability for further investment from digital media companies.
Gerald Pisarzowski, Vice-President Business Development of the Greater Toronto Marketing Alliance – Ontario Technology Corridor explained to Techvibes what the delegation is doing in Lyon: “Ontario Technology Corridor representatives are attending the Lyon Game Connection and are speaking with a number of companies who have plans to expand their operations into North America and are interested in learning more about the opportunities for doing business in the Ontario Technology Corridor.”
When asked what they are hoping to achieve he replied, “We expect that several of the companies that we speak with will take the next step and visit the Ontario Technology Corridor to conduct their due diligence.” The hope is that these investigations will lead to further investment in the Corridor.
France-based Ubisoft’s investment in Toronto will create 800 jobs over the next ten years. In response, the province of Ontario will contribute $263 million to bring the total investment to $800 million.