IBM unveiled a new cloud computing center in Canada this week - the first of its kind in the country. The IBM Compute Cloud Center will allow businesses and clients to develop, host and test programs through the service while paying only for the computational power of the institution.

The $42 million project was built in response to growing demand among Canadian firms to have access to greater more efficient and cost-efficient mobile computing capabilities.

"This is an innovation investment in Canada that will help Canadian businesses capture the promise of new computing models to drive productivity and increase competitiveness," said Bruce Ross, president of IBM Canada. "IBM's breadth of global expertise in cloud computing will provide Canadian organizations with an unparalleled level of service and reliability as they drive innovative business transformation."

Last year, the burgeoning cloud computing market took a massive upswing, as small and large businesses alike began noting the value and money-saving potential of being able to access business operations, data and procedures from outside the office.

According to the International Data Corporation, corporate spending on cloud computing is expected to grow more than 27 percent over the next four years, opening up a global market that companies such as IBM have long since recognized.

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