Government of Canada financial support to enable business to increase production capacity, enhance competitiveness and support over 400 jobs in Montréal
MONTRÉAL, March 6, 2020 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Established in 2017, Montréal SME REEL FX Creative Studios Inc. is an animation studio whose Texas-based parent company has an ambition to become a leader in cinema and virtual reality animation. Working in a wide range of creative styles, the collaborative, innovative team of Montréal artists and technicians does work for the large screen and theme parks for studios such as Universal, Paramount, 20th Century, Sony and Warner Bros. Its three main areas of activity are digital animation services, film production, and commercial virtual- and augmented-reality applications.
Hundreds of jobs in a booming industry
To support its expansion within the U.S. group and enhance its position within its parent company's different lines of business, REEL FX Creative Studios has launched an ambitious project to expand and improve the technology in its Montréal facilities. Montréal is a world leader in the visual effects and animation sector, which is what drew the U.S. managers of REEL FX to set up shop here. This is where the largest concentration of jobs in this field are found in the country, as evidenced by the dynamic nature of the industry's entire ecosystem. REEL FX Creative Studios' project will enable the business to increase its capacity to produce film animation and become more competitive, while also leading to the creation of 250 full-time jobs within a team that is already 200 strong.
To make their ambitions a reality, REEL FX Creative Studios will receive a repayable contribution of $1,500,000 from Canada Economic Development for Quebec Regions. This funding was announced today by the Honourable Mélanie Joly, Minister of Economic Development and Official Languages. This Government of Canada support will focus specifically on the purchase of cutting-edge computer equipment used in film and video production, as well as a computer network upgrade.
Investing in regional innovation and development is one of the Government of Canada's commitments to strengthen business performance. Supporting SMEs working in animation, visual effects and virtual reality contributes to the digitization of the Canadian economy, a priority for CED to maintain our competitiveness and generate wealth.
"Projects such as this one showcase our homegrown talent in film and digital content production. We are here to support workers and Canadian SMEs; we are helping businesses to equip themselves adequately to remain competitive and shine on the international stage."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
"Reel FX Animation is headquartered in Dallas, Texas, with studios in Hollywood and Montréal. We opened our Montréal studio in March of 2018 with a goal to employ at least 400 employees in three years. It is with the generous contribution from CED that we were able to build a state-of-the-art studio and meet that goal well ahead of schedule, doing so in just over 18 months. REEL FX Animation is thrilled to call Montréal our home, and we are thankful for the support of government agencies like CED, which have accelerated our growth and technology.''
Donna Henry, Chief Financial Officer, REEL FX Creative Studios
- The Honourable Mélanie Joly is the minister responsible for the six regional development agencies (RDAs), including CED.
- Funds have been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- CED is a key federal partner in Quebec's regional economic development. With its 12 business offices, CED is present to accompany Quebec businesses, supporting organizations and regions into tomorrow's economy.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Alexander Cohen, Press Secretary, Office of the Minister of Economic Development and Official Languages, [email protected]