13 December 2013

Cisco to invest $4 billion and add 1,700 jobs in Ontario, Canada

Toronto, ON – 13 December 2013 –Cisco and the Province of Ontario, Canada 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.

Kathleen Wynne, Premier of Ontario said “Our plan to create jobs and grow the economy is focused on smart, forward-looking investments that build on Ontario’s strengths. Today’s announcement is about supporting our talented technology workers. Together, we’re going to show the world what Ontario can do.”

The agreement with Cisco supports the Province of 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.

Rob Lloyd, President, Development and Sales, Cisco said "Canada continues to be one of Cisco’s best success stories globally. Cisco has invested in retaining and growing our employee footprint here in Ontario, particularly in R&D jobs. Today’s announcement with Premier Wynne is another milestone in driving our business in Canada and a testimony to our very positive relationship with the Province of Ontario."

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. 

Cisco (NASDAQ: CSCO) is the worldwide leader in IT. Cisco products and services are supplied in Canada by Cisco Systems Canada Co., a wholly owned subsidiary of Cisco Systems, Inc. 

Source: Cisco