Cisco and the Province of Ontario sign 10-year agreement
Cisco and the Province of Ontario have signed a 10-year agreement. 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. 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. ■