Ubisoft setting up shop in Toronto

It looks like Ontario’s push to entice game developers to relocate is paying off. The Ontario government announced today that it is investing $263 Million over the next decade to help leading video game developer Ubisoft set up a Toronto studio.

In addition, Ubisoft has agreed to invest more than $500 Million in the studio which will begin operating later this year.

Premier Dalton McGuinty announced today that his government is making the investment as part of its push into digital media. The investment will help create 800 jobs over 10 years.

“Let’s be clear, gaming is serious business,” McGuinty said at a Toronto press reception, citing video game revenue statistics that easily eclipse totals from the movie industry. “This isn’t kid stuff, and it isn’t child’s play … Ontario wants a bigger piece of the action, and it doesn’t get much bigger than Ubisoft.”

Ubisoft has been operating in Quebec since 1997 and employs 2,200.