Premier Kathleen Wynne and Cisco Canada President Nitin Kawale announced today a major agreement.
The 10-year agreement aims to significantly accelerate Ontario's status as a leader in technology innovation and key player in the global research and development landscape, according to Kawale.
Under the terms of the agreement, Cisco is focusing on adding up to 1,700 high tech jobs with a focus on R&D within the first six years. By 2024, Cisco's investment in Ontario through the agreement will be a whopping $4 billion. Up to 5,000 jobs could be created by the end of the agreement.
“Our plan to create jobs and grow the economy is focused on smart, forward-looking investments that build on Ontario’s strengths," Kathleen Wynne, Premier of Ontario, said. "Together, we’re going to show the world what Ontario can do.”
"Today marks a significant milestone for Cisco Canada and Province of Ontario," added Nitin Kawale, President, Cisco Canada. "This initiative will also ensure that Ontario continues to be a leader in the information and communications technology industry, with a vast talent pool representing the country’s next generation of innovation.”
“Cisco’s investment positions Ontario as an undisputed leader in the global tech industry," Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment, noted. "We’re sending a message to the world that Ontario is the best place anywhere for business to innovate, grow and create jobs."
"Canada continues to be one of Cisco’s best success stories globally," said Rob Lloyd, President, Development and Sales, Cisco. "Cisco has invested in retaining and growing our employee footprint here in Ontario, particularly in R&D jobs."
Ontario and Cisco fully intend to continue focusing on initiatives to help Ontario realize a transformational vision, increase productivity, and drive world-class innovation and sustainable economic development.