Microsoft and Cisco Systems are set to open new offices in East London as the U.K. government has pledged $81 million to refurbish the Silicon Roundabout neighborhood, Bloomberg Businessweek reports.
Microsoft will open a technology development center which will employ young people as apprentices and Cisco will partner with the University College of London and DC Thomson to create media jobs.
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Tech City Investment Organization said the government funds involve the creation of the “largest indoor civic space” in Europe for classrooms and work spaces in an effort to boost the startup hub.
According to Bloomberg, London has been working to attract technology jobs as the the U.K. struggles with budget shortfalls and unemployment.
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