(MENAFN- Caribbean News Global) KANATA, Ontario – As part of its plan to build Ontario, the Ontario government has secured a $340 million investment by telecommunications giant nokia Corporation to expand its operations in Canada. This investment will support a $770 million project to build Nokia's new Canadian headquarters in Kanata and create hundreds of high-skilled, good-paying jobs, while ensuring Ontario remains a global leader in innovation and technology for generations to come.
“This monumental investment from Nokia shows once again that there is no better place for businesses to grow and jobs to be created than here in Ontario,” said premier Doug Ford.“We are proud to work alongside our partners to secure hundreds more in-demand, high-skill jobs for the Ottawa region and we welcome this long-term commitment from Nokia to our province, and our workers.”
As part of its expansion plans, is building a new office and state-of-the-art research and development (R&D) facilities that will continue driving innovation in Ontario. The expansion will directly create more than 340 high-value jobs in Ottawa and the surrounding region. More than 2,500 workers are expected to be employed in Ontario by Nokia once the project is completed in 2027. Nokia will also create an additional 100 student internship positions in the science, technology, engineering, arts and math fields. This will ensure that more students are able to benefit from education opportunities that will lead them to the jobs of the future.
“The project we're announcing will help connect Canadians to the jobs of today and tomorrow. It will bring economic benefits to the National Capital Region and stimulate Canada's tech ecosystem. This is about building a strong economy and a better future for everyone,” said, Justin Trudeau, prime minister of Canada.
Nokia's new R&D facilities will develop and transform technology to drive dramatic advancements in network integration. To support this innovative expansion project in the technology sector, the province through Invest Ontario is providing Nokia with a $30 million loan that will assist with growth and job creation. This new R&D hub will secure Ontario's position as a global leader in advanced technology and the digital future by broadening Ontario's 5G, cyber security, artificial intelligence and machine learning patent portfolios, while enhancing digital identity management and security.
“Nokia's investment and expansion project are strong signals that Ontario continues to be the best place for businesses around the world to invest and grow,” said Vic Fedeli, minister of economic development, job creation and trade.“Ontario is home to a wealth of world-renowned research institutes and top talent who work collaboratively with businesses to create game-changing solutions. Working closely with Invest Ontario, our government is proud to support global innovators like Nokia as part of our plan to build Ontario.”
Ontario continues to adopt innovative and forward-thinking approaches to attract both domestic and international investments and be a leading destination to do business.
“Nokia deciding to build its Canadian headquarters for the new research and development facilities in Kanata is excellent news for our community. Nokia's commitment today will support the growth of Kanata North's high-tech sector, bring new jobs to the region, and increase economic activity for residents and businesses of Kanata,” said Dr Merrilee Fullerton, MD.