The Ontario Technology Corridor Digital Media Advantage March 2011.

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Presentation transcript:

The Ontario Technology Corridor Digital Media Advantage March 2011

2 A two-hour flight from many major U.S. cities

3 Welcome to the Ontario Technology Corridor Zoom in on the Ontario Technology Corridor

Greater Toronto Area and Ottawa Region Population:6.1 million Companies:3,362 Workforce:148,000 Population:1.3 million Companies:1,717 Workforce:68,382 4 Welcome to the Ontario Technology Corridor

Waterloo Region and City of London Population:534,000 Companies:500 Workforce:30,000 Population:450,000 Companies:350 Workforce:8,000 5 Welcome to the Ontario Technology Corridor

Niagara Region Population:442,000 Companies:470 Workforce:3,500 6 Welcome to the Ontario Technology Corridor

Top 10 reasons to invest in Ontario 1. Stable, highly talented, motivated workforce 2. Access to the North American market (NAFTA) 3. Openness to diversity and multiculturalism 4. Economic engine of Canada 5. World class research institutions 6. Innovation leadership 7. Low risk business environment 8. Superior infrastructure 9. Business incentives 10. Quality of life 7 Welcome to the Ontario Technology Corridor

Ontario offers one of the World’s most educated populations 8 Welcome to the Ontario Technology Corridor

World class universities and colleges University of Waterloo Wilfred Laurier University University of Toronto Ryerson University York University Brock University University of Western Ontario (Western) University of Ontario Institute of Technology Ontario College of Art & Design University Carleton University University of Ottawa Conestoga College Centennial College George Brown College Humber College Seneca College Sheridan College Niagara College Fanshawe College Durham College Algonquin College La Cité collégiale Stratford Institute 9 Welcome to the Ontario Technology Corridor

PROGRAM TYPE NUMBER OF PROGRAMS~ ENROLLMENT Game14712 Animation221,083 Graphic Design142,118 Media inc. Film292,792 Other4432 Game & Animation Subtotal837,137 Software Engineering (College)6216 Computer Science (University)437,843 Computer Engineering (College)61,049 Computer Engineering (University)10715 Computer Programming (College)261,460 Computer/Software Subtotal9111,283 Grand Total17418,420 Digital gaming related programs 10 Welcome to the Ontario Technology Corridor

The Ontario Technology Corridor is the economic engine of Canada The OTC represents 90% of the Province’s ICT industry Key Sectors include: software development and services, telecom equipment, digital media, microelectronics Ontario has 1,000 interactive digital media companies that employ 16,000 people and create $1.2 billion in revenue Creative industries in Ontario contribute $12.2 billion to the provincial GDP and employs nearly 300,000 people 11 Welcome to the Ontario Technology Corridor

Home to 6,400 ICT companies Greater Toronto Area: Ubisoft, Tecmo Koei Canada Inc., Capcom Interactive Canada Inc., Side Effects Software Inc. Ottawa: Fuel Industries Inc., Magmic Inc., bitHeads Inc. includes Head Games, Playbrains Waterloo Region: Research in Motion Ltd. (Blackberry), Open Text Corp., Google, SAP Niagara: Silicon Knights Inc., Keyframe Digital Productions Inc., nGen (Interactive Media Generator) London: Digital Extremes, Big Blue Bubble Inc., Antic Entertainment Inc., Tall Tree Games 12 Welcome to the Ontario Technology Corridor

Ontario – the innovation society! Gnomeo & Juliet created by Toronto-based Starz animation is the largest animated feature ever produced in Canada. Ottawa: Algonquin College in cooperation with Carleton University offers Interactive Multimedia and Design (IMD), a 4 year degree program Toronto’s Ryerson University: Digital Media Zone est. in 2010 – fostered 115 jobs, 100 innovators, 20 companies in its first year University of Waterloo: renowned worldwide for computer science, math, and engineering programs 13 Welcome to the Ontario Technology Corridor

Canada – a sound choice for new investment and trade Foreign Direct Investment (FDI) into Canada has more than doubled in the past decade By 2012 the federal corporate income tax falls from 18% to 15% – the lowest in the G7 By 2015 tariffs on all manufacturing inputs reduced to zero, creating a national Free Trade Zone Most of Canada’s population of 33.7 million people live within 200 kilometers of the United States 14 Welcome to the Ontario Technology Corridor

Canada has a low-risk business and regulatory environment Canada also has the: World’s soundest banking system Lowest taxes on new business investment in the G7 Lowest R&D costs in the G7, 12.9% lower than the U.S. Low Inflation and low interest rates And: It takes only one procedure and five days to register a new company in Canada 15 Welcome to the Ontario Technology Corridor

Canada offers G-7’s most favourable tax treatment for R&D R&D savings vary by the size and type of corporation For example, in 2010 the after-tax cost of a $100 R&D expenditure could range from $55.01 to as low as $36.72 for applicable research institutes 16 Welcome to the Ontario Technology Corridor

Ontario digital media and R&D incentives include: Ontario Business Research Institute Tax Credit (OBRITC) Ontario Innovation Tax Credit Ontario Research & Development Tax Credit Ontario Computer Animation & Special Effects Tax Credit Ontario Interactive Digital Media Tax Credit OMDC Interactive Digital Media Fund OMDC Ontario Sound Recording Tax Credit 17 Welcome to the Ontario Technology Corridor

Ontario’s NAFTA advantage What this means for your company: 444 million people in North America’s $16 trillion market Either preferential (reduced) or eliminated tariff rates for North American goods traded between Canada, the U.S. and Mexico Protection of investment and intellectual property (IP) laws and regulations are enforced equally among all trading partners Skilled ICT suppliers 18 Welcome to the Ontario Technology Corridor

Ontario’s NAFTA advantage Welcome to the Ontario Technology Corridor 19 What this means for your company: New market opportunities New partnerships New customers New investors New links in supply and production chains New choices for consumers Economic growth High standards of living

Excellent infrastructure of international airports Toronto Pearson Toronto Billy Bishop City Ottawa Macdonald-Cartier Region of Waterloo London St. Catharines / Niagara District Hamilton 20 Welcome to the Ontario Technology Corridor

Ontario – international destination, world class convention facilities Ottawa Convention Centre – 192,000 square feet of usable space, a bold, modern design University of Waterloo Conference Centre Scotiabank Convention Centre, located just 1640 feet from the Horseshoe Falls, Niagara Metro Toronto Convention Centre and The International Centre, adjacent to the airport London Convention Centre – tiered 300 seat theatre 21 Welcome to the Ontario Technology Corridor

Well developed highway, rail, and shipping 22 Welcome to the Ontario Technology Corridor Largest and busiest freeway network in Canada Efficient 400-series highways and municipal expressways Ports connect major manufacturing, processing, transportation services and logistics expertise

Established mass transit system 23 Welcome to the Ontario Technology Corridor GO Transit interregional public transit system carries 50 million/passengers/year The Corridor, a VIA Rail passenger train service area The Toronto Transit Commission’s (TTC) subway system, linked with buses, hybrid buses and streetcars carries ~ 1.5 million riders/day

Highly integrated telecommunications network 24 Welcome to the Ontario Technology Corridor One of the most extensive and integrated telecommunication networks in North America The largest “free calling” area in North America 100% Digital Telecom Infrastructure High speed data services Internet connectivity E-business services

Niagara is one of the busiest Canada-U.S. borders 25 Welcome to the Ontario Technology Corridor 2 nd busiest point of entry between Canada and the U.S., the world’s largest trading relationship Four efficient bridges for U.S. border crossings The Welland Canal offers direct shipping access from the Atlantic Ocean

Openness to diversity and multiculturalism 26 Welcome to the Ontario Technology Corridor

Excellent culture and sports facilities 27 Welcome to the Ontario Technology Corridor

Source: Mercer Human Resource Consulting, 2009 Index: New York City = 100 Very high quality of life 28 Welcome to the Ontario Technology Corridor

Safe, stable, and well governed 29 Welcome to the Ontario Technology Corridor Canada is a constitutional monarchy Canada has a three-tiered system with Federal, Provincial, and Municipal levels of government Municipal governments are under provincial jurisdiction and governed by an elected mayor and council

Ontario cities and towns offer a superior lifestyle Canada has the most liveable destinations in the world! Economist Intelligence Unit (EIU) Low crime Highly stable Little threat from terrorism Highly developed infrastructure 30 Welcome to the Ontario Technology Corridor

Ontario R&D incentives at a glance SUPPORT PROGRAMS/ INCENTIVES CRITERIAHOW MUCH Ontario Business Research Institute Tax Credit (OBRITC) Must incur qualified expenditures in respect of scientific research and experimental development (SR&ED) under an eligible contract with an eligible research institute (ERI) 20% refundable tax credit for SR&ED expenditures incurred in Ontario under an eligible contract with an ERI. The maximum amount a corporation can claim is $4 million Ontario Innovation Tax Credit Must carry on eligible SR&ED in Ontario 10% refundable tax credit for qualifying. Can be combined with OBRITC (above) for a total of 30% Ontario Research and Development Tax Credit Must carry on eligible SR&ED in Ontario A non-refundable 4.5% tax credit that may be used to reduce corporate income tax payable, retroactively applied or carried forward 31 Welcome to the Ontario Technology Corridor

Digital media incentives in Ontario SUPPORT PROGRAMS/ INCENTIVES CRITERIAHOW MUCH Ontario Computer Animation & Special Effects Tax Credit Computer animation and special effects activities in film or TV production 20% refundable tax credit for eligible labour expenditures Ontario Interactive Digital Media Tax Credit Labour, marketing and distribution expenditures for the creation of interactive digital media products 40% of eligible labour, marketing and distribution expenditures; 35% for other qualifying expenditures OMDC Interactive Digital Media Fund Labour expenditures and eligible marketing and distribution expenses claimed with respect to interactive digital media products A non-refundable contribution of up to $150,000 to a maximum of 50% of the project budget to create a market-ready interactive digital media content product OMDC Ontario Sound Recording Tax Credit Eligible production and marketing costs incurred by a qualifying corporation with respect to an eligible Canadian sound recording 20% refundable tax credit for eligible sound recording company with respect to an eligible Canadian sound recording by an emerging Canadian artist or group 32 Welcome to the Ontario Technology Corridor

The Ontario Technology Corridor Digital Media Advantage March 2011