Montréal, June 29, 2015 – To meet growing demand from Hollywood producers, Technicolor, a world leader in the movie industry, announced plans to expand its operations in Greater Montréal and create 200 jobs over the next year. The French company’s subsidiary, which already employs some 820 people, also announced plans to set up a new training academy for special effects and animation specialists.
The upcoming expansion and recent acquisition of French studio Mikros position Technicolor Montréal as Greater Montréal’s leading provider of services for the movie industry. The company provides a complete range of creative and content creation services (visual effects, animation, event programming, post-production and dubbing) through its MPC and Mikros brands.
“Today Technicolor is relying heavily on Montréal for growth in content creation, visual effects and animation. We plan to cross the symbolic 1,000-employee threshold in Montréal in the coming months—that’s 400% growth in two years. The Training Academy is key to our future growth in Montréal,” said Frédéric Rose, CEO of Technicolor.
Greater Montréal’s visual effects industry has seen 24% annual job growth following the 2009 tax credit increase and subsequent arrival of international players like Technicolor, Cinesite, Framestore and Atomic Fiction.
According to Denis Coderre, Mayor of Montréal and Chair of the Communauté métropolitaine de Montréal, “Technicolor’s decision to expand in Montréal highlights the city’s value proposition to global players, who will find everything they need here to move their expansion projects forward, including a pool of highly skilled creative talent, state-of-the-art technological expertise and a competitive business environment.”
Montréal International, Greater Montréal’s investment promotion agency, supported the French company’s subsidiary every step of the way. “The presence of industry giants like Technicolor enhances Greater Montréal’s international status and positions the region as a leader in high value-added industries,” said Dominique Anglade, President and CEO of Montréal International. “Such companies create a lot of value for Québec because they invest more in wages and so-called intangible capital, i.e., R&D, technology transfers, training and professional development,” she added.
Technicolor opened a new visual effects studio in Cité du Multimédia in 2013, catering to major film productions and serving international clients exclusively.
Technicolor, a worldwide technology leader in the media and entertainment sector, is at the forefront of digital innovation. Its world-class research and innovation laboratories enable the company to lead the market in delivering advanced video services to content creators and distributors. The company also benefits from an extensive intellectual property portfolio focused on imaging and sound technologies, based on a thriving licensing business. Technicolor is committed to helping deliver exciting new experiences for viewers in theatres and at home.
About Montréal International
Montréal International (MI) acts as an economic driver for Greater Montréal to attract foreign wealth while accelerating the success of its partners and clients. Its role is to attract foreign investment, international organizations and skilled workers to Greater Montréal, and promote the region’s competitive environment. MI also works to find the best ways to position the region as an attractive investment destination, and make recommendations to various levels of government to support Québec’s job-creating, high-value-added industries.
Created in 1996, Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community) and the City of Montréal.