TORONTO – Cisco and the Province of Ontario have inked a new 10-year agreement that will help to create at least 1,700 new high tech jobs in the province.
The deal, announced Friday by Cisco Canada president Nitin Kawale and Ontario Premier Kathleen Wynne, says Cisco will add up to 1,700 high tech jobs with a focus on R&D within the first six years. The agreement also includes a framework with the potential to grow Cisco’s total Ontario employee footprint up to 5,000 by 2024, reflecting a potential total investment of up to $4 billion, including $2.2 billion in salaries alone. The Province of Ontario will provide up to $220 million in support of the total initiative.
This new initiative builds upon Cisco’s growing presence in Ontario, including investments in university chairs, planning for a new and expanded Toronto headquarters, the Pan Am Games technology infrastructure sponsorship, and Smart + Connected community initiatives. With this partnership, Cisco looks to harness Ontario’s skilled workforce, renowned educational institutions and competitive business climate.
“Together with the Province we will create, high value jobs that will stimulate the economy”, said Kawale, in the news release. “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.”
“Our plan to create jobs and grow the economy is focused on smart, forward-looking investments that build on Ontario’s strengths”, added Premier Wynne. “Today’s announcement is about supporting our talented technology workers. Together, we’re going to show the world what Ontario can do.”
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