New projects by Nokia and Siemens to create and maintain up to 2,478 jobs in Canada
DAVOS, Switzerland, Jan. 25, 2019 /CNW/ - The World Economic Forum provides opportunities to build networks and advance Canadians' economic interests. Canada's highly skilled workforce and expertise in emerging technologies make it the perfect place to do business.
Today, while participating at the World Economic Forum in Davos, Switzerland, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, finalized two new major projects in Canada with Nokia Canada and Siemens Canada.
Minister Bains announced a Government of Canada investment of up to $40 million in Nokia Canada, a world leader in telecommunications equipment. The investment will help maintain a Nokia workforce in Canada of over 2,000 employees and create another 237 jobs. It will support Nokia's projects, over a multi-year term valued at $214.6 million, based in Kanata and Mississauga, Ontario. Nokia's products will improve how data is routed and how optical networks are managed. The company will develop cybersecurity tools to protect telecommunications networks and establish a new Nokia Bell Labs presence in Canada to conduct research to help telecommunications networks meet the needs of 5G technology.
Minister Bains also announced an investment of up to $35.66 million in a partnership between Siemens Canada—a leading electronics and electrical engineering firm—New Brunswick Power and Nova Scotia Power. The funding will help create and maintain up to 241 highly skilled jobs in Atlantic Canada and support the partners' $92.7-million project. Under this project, Siemens will research and develop smart grid technology to help better manage the provinces' electricity and will build Canadian expertise that could improve the sustainability and efficiency of power grids around the world. This project will help improve power delivery to underserved communities, better integrate renewable energy into the power grid and reduce future electricity costs for consumers.
These Government of Canada investments are made under the Strategic Innovation Fund, a program designed to attract and support high-quality business investments in Canada's most dynamic and innovative sectors.
Quotes
"The work our government does on the world stage to deepen our relationships with world-leading companies like Nokia and Siemens is bearing fruit. The projects announced today will help make Canada a leader in the 21st century digital economy. By developing new clean technologies and products, we are creating good middle-class jobs, boosting economic growth and shaping a better future for Canadians."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"We are pleased to stand as a strong partner to Canada's innovation ecosystem by joining forces with Innovation, Science and Economic Development Canada and creating a new Canadian presence for Nokia Bell Labs. Together, we will enable a digital future powered by cutting-edge technologies such as 5G, IoT, cloud computing, artificial intelligence and machine learning, transforming Canada's industries, cities and local communities."
– Rajeev Suri, President and CEO, Nokia
"The electricity sector is undergoing significant change, including new applications and new ways of generating and delivering electricity. Businesses, governments and researchers must work together in order to keep pace with continuous advances and demands in the electricity market. Siemens' partnership and investment in Atlantic Canada are examples of how action and collaboration will ensure a sustainable energy future for Canada and around the world."
– Cedrik Neike, Member of the Managing Board, Siemens AG
Quick facts
- The World Economic Forum annual meeting is a unique opportunity to promote Canada's strengths, including a world-leading business climate with low corporate taxes and government policies designed to enhance the country's innovation potential.
- Funding, expert advice, programs and services are available to help businesses innovate, create jobs and grow Canada's economy. For example, Invest in Canada helps attract global investment and create jobs, and Canada's Global Skills Strategy makes it easier and faster for businesses in Canada to bring in global talent in order to scale up and grow.
Associated links
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SOURCE Innovation, Science and Economic Development Canada
Dani Keenan, Press Secretary, Minister of Innovation, Science and Economic Development, 343-291-1710; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]
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