While other publishers are cutting jobs and development studios, Ubisoft is actually expanding even in this economic climate. Today the company announced plans to open a new dev studio in Toronto, Canada before the end of the year.

Ubisoft says they expect the new studio to have as many as 800 people employed within the next 10 years. The publisher is investing $500 million in the new studio and is being helped by government funds that will total $263 million over 10 years. This will be the fourth game development studio Ubisoft has opened in Canada following established studios in Montreal, Quebec City and Vancouver. There's no word yet on what games the new Toronto studio will be making.