QUEBEC CITY -- Deputy Premier and Minister of State for the Economy and Finance Bernard Landry and Alain Chandonnet, president of TeraXion, have announced a major new optics investment in Quebec City. Between now and December 2003, TeraXion, a company that specializes in the design and manufacture of optical components, plans to invest over $40 million and create 500 new jobs at its facilities in the Quebec Metro High Tech Park. Given the size of the investment, which represents a $19 million payroll, the company is eligible for a ten-year tax holiday for major projects.

TeraXion thus joins other companies and organizations in the same line of business—notably Exfo and the National Optics Institute—in Metro Quebec's High Tech Park, the heart of Optics City. The Deputy Premier stressed that "investments in optics are accelerating at an amazing rate in Quebec City, which shows that a real economic sea change is taking place in the capital city."

http://www.teraxion.com