Publisher Ubisoft has announced plans to create a full development studio in Toronto, Ontario – its first in the region. It’s hoped the new venture will generate 800 new jobs over the next decade.

The government of Ontario plans to invest CA$263million in the company over that time, with Ubisoft itself investing over half a billion Canadian dollars in the new facility, which starts operations in late 2009. It will be its fourth Canadian studio, joining outfits in Montréal, Quebec City and Vancouver which already employ over 2,300 creative staff.

"Today's announcement marks a strategic move for Ubisoft as we continue to expand our internal development force," said Yves Guillemot, the publisher’s president and CEO. "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 Montréal boss Yannis Mallat will act as CEO of the new studio, which is expected to work closely with the region’s other creative industries. "We are incredibly excited to finally tap into the remarkable talent Ontario has been developing over the years," he said. "Toronto's unique pool of experience video game industry and film industry talent will allow us to develop a team with exceptional ability to help us realize our goals for creating brands with universal appeal that extend beyond the world of video games."