Canada Economic Development for Quebec Regions (CED)
Supporting innovation contributes to economic development in Quebec's regions. That is why the Honourable Pablo Rodriguez, Minister of Canadian Heritage and Quebec Lieutenant, today announced, on behalf of the Honourable Pascale St‑Onge, Minister of Sport and Minister responsible for CED, a repayable contribution of $1.5M for RodeoFX Inc. (Rodeo FX) for its expansion project valued at $3.75M, which will enable it to take a leading role in the industry.
Rodeo FX is a creative company that offers high-end visual effects services for films and television series, as well as animation, audio, advertising, and experiential services. With its 900 employees in Montréal, Québec, Toronto, and Los Angeles, it is today the largest independent studio in Canada. Since its creation in 2006, the business has received many prestigious awards for its work, including an Oscar and several Emmy Awards and Visual Effects Society Awards, and has also been recognized as an employer of choice. Given the sustained growth this booming sector has seen over the last decade, Rodeo FX had no other choice but to undertake a major investment project to improve its technological infrastructure to meet the growing demand. It will thus be able to increase its production capacity and maintain its level of excellence in innovation.
The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in their communities. Quebec's economic vitality relies, among other things, on organizations with strong roots in the regional economy. Innovation is a major contributor to growth, as well as a key asset in building a stronger, more resilient, greener, and more just economy for all.
Quotes
"All over the world, people are amazed by ground-breaking visual effects that are made right here in Quebec. Thanks to our artists, Montréal is a true powerhouse in the animation and visual effects industry. By supporting innovative companies such as Rodeo FX, we are helping them continue to succeed abroad and create wealth here at home."
The Honourable Pablo Rodriguez, Member of Parliament for Honoré-Mercier, Minister of Canadian Heritage and Quebec Lieutenant
"Our government is keen to equip our businesses well so they can grow and innovate. By supporting Rodeo FX's project, we are enabling a jewel of Quebec to push beyond its limits and thereby strengthen Canada's competitive position in the global animation and visual effects sector. The success and spin-offs of this project will without a doubt continue to be felt right across the country."
The Honourable Pascale St-Onge, Member of Parliament for Brome-Missisquoi, Minister of Sport and Minister responsible for CED
"Our different collaborations with the largest international studios constantly require us to push back the limits of creativity and, above all, to achieve a level of quality that is ever more demanding. Through cutting-edge infrastructure and technology, we are able to fulfill this mission and enable Quebec know-how to shine around the world. That is why this support is crucial for a company such as ours."
Sébastien Moreau, President and CEO, Rodeo FX
Quick facts
- This announcement is part of Economic Development Week.
- The many investments announced by the regional development agencies (RDAs) in projects that contribute to community vitality demonstrate the importance of economic development right across the country.
- The 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.
- In Quebec, SMEs account for 99.7% of the province's businesses and 50% of its GDP.
- CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
