09/30/2013 12:26 EDT | Updated 11/30/2013 05:12 EST

Ubisoft Plans To Create 500 Jobs In Montreal

WITH AFP STORY BY MICHAEL THURSTON: ENTERTAINMENT-US-SECURITY-INTELLIGENCE-GAMES The Ubisoft display at the Electronic Entertainment Expo (E3) in Los Angeles, California, June 12, 2013. The video game 'Watch Dogs' by Ubisoft, whose protagonist controls the world around him by hacking into computer systems, is generating growing buzz for its eerie parallels with the current storm about US surveillance of private citizens. AFP PHOTO / ROBYN BECK (Photo credit should read ROBYN BECK/AFP/Getty Images)
The video game giant Ubisoft will be opening a new studio in Montreal, which the company says will create about 500 jobs over the next seven years. 

Ubisoft CEO Yves Guillemot announced the $373-million investment this morning at the company's Montreal headquarters, alongside several Parti Québécois cabinet ministers.

Guillemot said the new positions will create an online gaming studio, with most of the jobs to be filled by Quebecers. 

Guillemot said Ubisoft considered expanding in other cities, but chose Montreal because of a financial boost from the provincial government.

MaroisUbisoft expansion

Marois called Ubisoft a "jewel" in the Quebec economy. 

Montreal is one of the largest video game production centres in the world, behind Tokyo and Los Angeles.

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