From GamePolitics:
Ubisoft’s new Toronto studio, scheduled to open in the first quarter of 2010, will end up costing about $800.0 million Canadian, $263.0 million of which was subsidized by the Province of Ontario.
The Ontario Technology Corridor now claims to employ some 272,000 people across 6,700 companies; figures that prompted the Canadian Province to [...]

From GameIndustry.biz (via Joystiq):
Silicon Knights boss Denis Dyack has said that the sheer number of developers being laid off from both in-house and independent studios over the past 18 months has been staggering, and that his company is now only a handful of studios with more than a decade of experience in the business. [...]

From Joystiq:
But hey, we know you’re worried about Yannis Mallat, CEO of both Ubisoft Montreal and Ubisoft Toronto, who told us last month that he would be "handling both" studios. Well, don’t fret – Ubisoft’s press release says that while "Raymond will oversee day-to-day operations of the Toronto studio’s work on video game project," [...]

From Gamasutra:
Following Monday’s press conference announcing a new Ubisoft development studio in Toronto, Gamasutra had a chance to talk to the studio’s new CEO, Yannis Mallat.
The unveiling of the "full development studio" in Toronto, Ontario marks the company’s first development presence in the province, and is intended to create 800 new jobs in [...]

Ubisoft announced plans today to open a full development studio in Toronto, Ontario – a first for the company in the province. This significant announcement is expected to result in the creation of 800 net new jobs within the province over the next decade. The government of Ontario is investing CA$263 million over ten [...]