December 17, 2013- Ontario is partnering with Cisco Canada to launch the largest IT investment in the history of the province’s tech sector.
Cisco will make Ontario one of its global research and development hubs for its next-generation technologies. It will create up to 1,700 jobs to expand its current Ontario workforce to 3,000 in the next six years, with up to $190 million in provincial support. Cisco will potentially grow its Ontario workforce to 5,000 within the next 10 years.
Cisco is investing up to $4 billion in Ontario over the next decade, including up to $2.2 billion in salaries alone. The Ontario government is providing a total grant of up to $220 million to support Cisco’s investment.
Ontario is attracting leading companies like Cisco through its talented workforce, research infrastructure and competitive business climate. The majority of Cisco’s new hires will be in the field of research and development, and the company will be focusing on recent graduates and mentoring the next generation of talent.
Quotes
“This is a great example of how government partnerships with the private sector can help create jobs and grow the economy. We are building on Ontario’s position as a global leader in research and innovation, and creating important tech sector jobs across the province.”
— Kathleen Wynne, Premier of Ontario
“Cisco’s investment positions Ontario as an undisputed leader in the global tech industry. We’re sending a message to the world that Ontario is the best place anywhere for business to innovate, grow and create jobs. Today’s investment and the jobs it will create are part of our plan to create opportunity today and for the long-term.”
— Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment
“Today marks a significant milestone for Cisco Canada and the Province of Ontario. This announcement builds on our existing partnership and our mutual commitment to drive productivity and create new economic opportunities through innovation. Together with the Province we will create high value jobs that will stimulate the economy. 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.”
— Nitin Kawale, President, Cisco Canada
Quick Facts
§ Cisco’s new positions will be located primarily in Ottawa and Toronto, with additional opportunities created across Cisco’s Ontario operations.
§ Ontario’s Information and Communications Technology (ICT) industry directly employs about 250,000 people, representing almost half of the sector employment in Canada.
§ Ontario ranks third in North America after California and Texas for the number of ICT companies.
