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Tuesday, February 13, 2007

Ubisoft gets $19m investment for digital design studio

The Government of Quebec has confirmed that Ubisoft is to receive a multi-million dollar grant to facilitate the expansion of its Montreal office and the establishment of a new digital design studio.

According to a statement issued by Government officials, the publisher will be given a contribution of up to CAN $19 million (US $16.2 million / EUR 12.5 million).

This figure is based on interim financing from tax credits, training related to new jobs, conducting studies and collaboration in training of qualified labour. In addition, Ubisoft may receive a tax credit for producing multimedia titles and film production services.

The money will be used to fund a two-phase project which will see a digital design studio established to "bring together film and videogames" and the expansion of Ubisoft Montreal, which already employs more than 1000 people. The project is expected to create a further 1000 jobs by 2013.

"For our Government, it is essential to support companies' training plans. By focusing on qualified labour, Quebec will be able to continue to create wealth and to come out on top in international competition," said Michelle Courchesne, minister for employment and social solidarity.

The minister for economic development, Ray Bachand, added, "Carrying out this project will consolidate Montreal's mission to be an international centre of excellence for videogame development and digital design. The presence of a leader such as Ubisoft creates a catalyst effect on the launch and expansion of businesses."

Ellie Gibson, GI

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