California-based THQ to Open a Studio in Montréal
CALIFORNIA-BASED THQ TO OPEN A STUDIO IN MONTRÉAL
Minister Clément Gignac welcomes a world leader in interactive entertainment software development and publishing
Montréal, December 3, 2009 – Mr. Clément Gignac, Minister of Economic Development, Innovation and Export Trade, has announced that US-based THQ will soon open a facility in Québec. The announcement was made today in the presence of Messrs. Danny Bilson and Steve DeCosta, respectively Executive Vice President and Vice President, Finance and Administration at THQ, André Gamache, CEO of Montréal International and Louise Morin, Senior Vice-President, International Affairs, Investissement Québec.
Headquartered in Los Angeles, THQ is set to open a studio in Montréal centralizing activities that are crucial for all the company’s subsidiaries, including product development, R&D, artwork and content development, quality assurance and adaptation of THQ titles into different languages.
“THQ chose Québec as the location for this major expansion. By setting up its biggest studio here, THQ is joining and bolstering a booming local multimedia industry that’s ready to take on new challenges. Many multinationals in this industry are electing to open new facilities here because Québec has all the ingredients they need to succeed, including a talented workforce, competitive operating costs and the government’s active support,” declared the Minister.
“Thanks to its outstanding pool of creative digital media talent and its highly regarded university system, Montréal is the ideal location to support our future product and technology development needs,” said Steve DaCosta, Vice President, Finance and Administration at THQ. “Moreover, government support in the form of refundable tax credits and other incentives enabled Montréal to stand out as the best combination of creative talent and favourable economics of the cities we evaluated for our new studio.”
“The company that we are welcoming today will be able to capitalize on Québec’s many advantages, including its creative and highly skilled workforce. In addition, THQ will be able to benefit from Montréal’s cultural diversity to translate and adapt titles into several languages for worldwide distribution,” stated Minister Gignac.
THQ’s Montréal studio will be phased in gradually, employing approximately 60 people in the first year and up to 400 people within five years. This approach is in keeping with the current labour equilibrium in effect among major industry players based in Québec and allows for harmonious growth as new graduates are hired over time.
The Québec government has put in place a number of progressive measures to support the growth of the multimedia industry, a sector that holds great promise for our economy. THQ can benefit from these measures and is eligible for the Multimedia Title Tax Credit.
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops and publishes its products for all popular game systems, portable consoles, wireless devices and personal computers. It boasts a portfolio of highly popular, award-winning entertainment products. The company’s in-house development studio system, which focuses on creating technologies and intellectual property, has made THQ an innovation leader in the electronic games industry.