Cisco and Ontario collaborate on job creation initiatives
December 13, 2013 by Manufacturing AUTOMATION
A new, 10-year agreement between the Ontario government and Cisco Canada aims to significantly accelerate Ontario’s status as a leader in technology innovation and key player in the global research and development landscape.
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. 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. 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.
The agreement with Cisco supports Ontario’s focus on economic development and job creation. By partnering with Cisco, the province demonstrates a strong commitment to fostering innovation and, through research and development, bringing new technology to market.
“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. Today’s announcement…is another milestone in driving our business in Canada and a testimony to our very positive relationship with the province of Ontario.”
Ontario and Cisco intend to continue focusing on initiatives to help Ontario realize a transformational vision, increase productivity, and drive world-class innovation and sustainable economic development.