It’s being called the largest job-creating investment in Ontario’s high-tech sector.
Cisco Canada has signed a ten-year deal with the Ontario government that could see the company invest up to 4 billion dollars in the province.
Cisco is a world leader in IT products and services.
Cisco Canada’s president says the company will add up to 17 hundred high-tech jobs within the first six years, with a focus on research and development.
The agreement also includes a framework with the potential to grow Cisco’s total Ontario employee footprint up to 5,000 by 2024.
Premier Kathleen Wynne was on hand for the announcement, and says the province will provide up to $220 million for the initiative.
She calls it a substantial vote of confidence in the province’s educated workforce.