Ubisoft have announced their plans to open a new development studio in Toronto, Canada, Ubisoft’s first venture in the province of Ontario, and its fourth studio in Canada. Ubisoft aims to have the studio operational by late this year, which will be overseen by current chief executive officer at Ubisoft Montréal, Yannis Mallat.

It’s been approximated that, over the next ten years, the new studio will create 800 new jobs, and as a result, the government of Ontario will be investing CAD$263 million into the company over this period, while Ubisoft’s contribution will be over half a billion CAD.

President and chief executive officer at Ubisoft, Yves Guillemot said:

“Today’s announcement marks a strategic move for Ubisoft as we continue to expand our internal development force. We are in an excellent position to grow and after extensive analysis we are thrilled to have reached an agreement with the government of Ontario to found our new studio in Toronto.”

“The city is one of North America’s economic and cultural epicenters and our expectations are high. We’re excited to be able to count on the exceptional local talent, who will contribute to our accelerated growth and will have a profound impact on the video game industry with the excellence of their creativity.”

Ubisoft Toronto will also take advantage of the city’s existing experience in the film production industry, as plans to collaborate with the local film industry are being made to enhance the production of the company’s videogame products, and accelerate Ubisoft’s media convergence strategy, extending its brands to media such as books, comics and short films, amongst others.

Ontario Premier, Dalton McGuinty elaborated on the reasons behind the provincial government’s support for this new endeavour, saying: “Our world is one where you can borrow capital, you can copy technology and you can buy natural resources.

“But to build a high wage and a high standard of living,” continued Premier McGuinty, “you need talent. By investing in Ubisoft, we’re building Ontario’s economy now and for the future.”