KANATA, ON – The federal government is investing $40 million in the Canadian arm of Nokia to research and test its 5G wireless technology in Canada.
Friday’s announcement says that the investment, which comes from the Feds’ Strategic Innovation Fund, will help maintain over 2000 Nokia jobs already in Canada plus create another 237. It will also support projects at Nokia Canada locations in Kanata and Mississauga, valued at over $214 million.
“Nokia's products will improve how data is routed and how optical networks are managed”, reads the announcement. “The company will develop cybersecurity tools to protect telecommunications networks and establish a new Nokia Bell Labs presence in Canada to conduct research to help telecommunications networks meet the needs of 5G technology.”
ISED Minister Navdeep Bains finalized the Nokia deal Thursday in Davos, Switzerland, where he's participating in the World Economic Forum.
"Investing in innovative companies like Nokia is part of our government's plan to grow the economy and create well-paying middle-class jobs for Ontarians”, said Stéphane Lauzon, Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence, on behalf of Minister Bains. “As Nokia is a world leader in 5G technology, its commitment to Ottawa and Ontario is a testament to the kind of quality work that this region is capable of. This is a great demonstration of how Canada can lead in the technology economy."
"Nokia has an established history of innovation in Canada, and we are delighted with the support shown to us by the Canadian government”, added Nokia Canada president Richard Herald. “As 5G begins to be deployed at scale, the innovation developed in Canada will have world-wide impact."
Photo from Friday’s announcement via Stéphane Lauzon’s Twitter account
