leveraged over $485 million in investment across Eastern Ontario
Now, Ontario is attempting this economic balancing act: in order to create the new Southwestern Ontario Development Fund as well as make both the Eastern Ontario Development Fund and the Southwestern Ontario Development Fund permanent, the Attracting Investment and Creating Jobs Act must be approved and passed.
“We all have good reason to be optimistic” about our economy in Ontario as Premier Dalton McGuinty explained to us in his tour of one of the 1,000 interactive digital media companies, which is shown in this video.
More good news on job gains.
Digital Extremes, a London-based video game studio, creates 30 new jobs with more than 120 people currently working at the studio.
Here are their exciting technological advancement and interactive digital products:
Digital Extremes is developing a “3D Evolution Game Engine” that automates programming work required to create a new 3D video game.
The technology will reduce the time and cost involved in bringing new games to market.
This will help Digital Extremes grow its business and making Ontario’s digital media sector more competitive.
Digital Extremes is investing nearly $36 million in the project, including a $2.5-million grant from the province.
The company was the co-creator of Epic’s award winning Unreal franchise and has recently worked on THQ’s Homefront and 2K Game’s BioShock franchise.
Digital Extremes’ original game, Dark Sector was released in 2008, selling more than one million copies.
Reducing small business income taxes by 18 per cent.
Here are the highlights of the growth of the province’s digital media industry:
“In 2010, Ontario supported 341 digital media projects, leading to over $175 million in production and development activity.
Digital media production contributes almost $1.5 billion annually to Ontario’s economy and employs 16,000 people, up from 8,000 in 2000.
Ontario is home to about 1,000 interactive digital media companies.
The Interactive Digital Media Tax Credit was valued at close to $20 million in 2009-10.
Ontario is building an innovation-focused economy through postsecondary education and technology with partnerships like the Screen Industries Research and Training Centre. New digital media technologies spur development in video games, movie making and web applications and help create jobs for Ontario graduates.”
The interactive digital media companies that have invested millions to set up and expand studios in partnership with the Ontario government include:
Ascension CrossMedia is involved in a new form of gaming called “connected transmedia”. That means a player can play one game on their TV, console and mobile devices. Premier Dalton McGuinty visited Ascension CrossMedia today to check out the entertaining and engaging games!