Canada’s dependency on fast and reliable technology to work, do business, and stay in touch with their families and friends have motivated the Government of Canada to support innovative solutions to strengthen and grow our country’s wireless infrastructure for generations to come, a news release has said.
Since its creation in 2017, the Strategic Innovation Fund (SIF) has helped Canadian companies create and maintain close to 100,000 jobs, and has leveraged $57 billion in additional investments.
Canada’s continuous investment in digital innovation will not only create good middle-class jobs and new opportunities for Canadians and small businesses across the country but also help them succeed in the economy of today and tomorrow.
Prime Minister, Justin Trudeau, the Premier of Ontario, Doug Ford, the President and CEO of Nokia, Pekka Lundmark, and the President of Nokia Canada, Jeffrey Maddox jointly announcement earlier this week about a new project from the global telecommunications company Nokia that would facilitate Canada’s successful transition to the next generation of 5G wireless technology.
The next generation of 5G wireless technology is expected to add $40 billion annually to Canada’s economy in the next four years.
Each new job created by an investment in this sector creates 2.3 new jobs in the broader Canadian economy with every dollar spent in this sector adding almost two dollars to our economy.
Aimed at further advancing wireless technology research and development in Canada, this transformative $340 million project would expand Nokia’s Ottawa facility and revitalize its laboratories.
A global leader in telecom equipment, Nokia operates in 130 countries and employs 88,000 people. In 2022, the company had $28 billion in global sales, employs 2,200 people in Canada.
Nokia’s research and development operation in Ottawa is the largest single telecom employer in the region.
More than 340 good middle-class jobs are expected to be created and would increase co-op and intern positions for university and college students in Science, Technology, Engineering, and Mathematics (STEM).
Strengthening Canada’s wireless network would open up new opportunities in innovative technology, including in the areas of clean energy, smart cities, precision agriculture, autonomous vehicles, and advanced telemedicine.
#Canada, #Nokia; #5GWirelessTechnology; #SIF
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