Ontario Technology Corridor at GDC 2010 in San Francisco to Attract New/Expanding Gaming Companies

SAN FRANCISCO, CA -- GDC 2010--(Marketwire - March 9, 2010) - Executives from the Ontario Technology Corridor are attending the Game Developers Conference (GDC 2010) in San Francisco to show digital entertainment companies that Ontario is the best place in North America to expand or relocate their businesses. The Canadian province offers a deep talent pool, strong and stable economy, and targeted incentives.

Ontario's fast-growing entertainment and creative cluster produces $15 billion in revenue and over 200,000 jobs, contributing $12.7 billion to the province's GDP. In addition, gaming and digital media graduates from Ontario colleges and universities have proven to be prized employees at companies like Pixar Animation Studios, Electronic Arts, Walt Disney and Microsoft.

"Our job now is to add to our tremendous home-grown crop of companies. 35 Ontario gaming companies are at GDC 2010 to showcase their world-class creations, make business connections, and help demonstrate that Ontario is a prime destination in North America for gaming investments," said Larry MacKinnon, Director, Business Development, Technology with the London Economic Development Corporation, an Ontario Technology Corridor partner. The list of companies based or with operations in Ontario and attending GDC 2010 includes Digital Extremes, Ubisoft, FileCatalyst, and Frozen North Productions.

Ontario's Media Development Corporation (OMDC) is the central catalyst for the province's cultural media cluster, and offers the following targeted tax incentives:

- Ontario Intellectual Property Development Fund - refunds 30 per cent of eligible early stage development costs to bring screen-based content properties closer to production;

- Ontario Interactive Digital Media Tax Credit - refunds 35-40 per cent of production costs;

- Ontario Computer Animation and Special Effects Tax Credit - 20 per cent of labor costs;

- OMDC Interactive Digital Media Fund - up to $150,000 in project production funding. So far in 2010, the OMDC has announced $2.9 million in funding support.

About the Ontario Technology Corridor
Employing nearly 272,000 people among 6,700 companies, the Ontario Technology Corridor includes the Greater Toronto area, Ottawa region, Waterloo region, city of London and the Niagara region. The Corridor also welcomes in partnership the Province of Ontario's Ministry of Economic Development and Trade as well as the federal government's Department of Foreign Affairs and International Trade Canada.

The Ontario Technology Corridor offers a highly educated workforce, excellent growth opportunities, a low-risk business environment, and generous R&D tax credits that are the envy of other countries. The Corridor is supported by the Greater Toronto Marketing Alliance (GTMA), Ottawa Centre for Research and Innovation (OCRI), Canada's Technology Triangle, the London Economic Development Corporation and the Niagara Economic Development Corporation. For more information, go to www.ontariotechnologycorridor.com.

Contact Information:

Ontario Technology Corridor contacts:
Larry MacKinnon
Director, Business Development, Technology
London Economic Development Corporation
Phone: 519-661-5011