Cisco and Ontario’s provincial government have signed a 10-year agreement for the company to create more than 1,700 technology jobs focused on research and development in the province within the first six years.
The deal includes goals to grow Cisco’s number of employees in Ontario to 5,000 by 2024 and allocates $4 billion in company investments, nearly half of which is for salaries, Cisco announced Friday.
Ontario will provide up to $220 million for the project.
Cisco and government will also work together to expand the company’s headquarters in Toronto, sponsor the Pan Am Games technology infrastructure and invest in university chairs and the Smat + Connected community.
Nitin Kawale, Cisco Canada president, and Kathleen Wynne, Ontario premier, announced the agreement Friday.