Cisco plans to establish a $100 million, 15,000 square foot, Internet of Everything Innovation Center at the RBC WaterPark Place in Toronto, Ontario, Canada.
As a part of that agreement, Cisco will invest $4 billion in its Ontario research and Development center over the next decade, promising to create 1,700 jobs over the next six years. In return Ontario is providing the firm with a $220 million grant.
The IoE Innovation Center will help government agencies and companies connect to the Internet of Everything. Rob Lloyd, Cisco President for Development and Sales, is quoted as saying this $19 trillion global opportunity includes almost $500 billion for Canada’s public and private sector organizations, and much of this opportunity is still on the table.
He added that Cisco Canada is “a leader in Smart+Connected Communities development, and the establishment of the IoE Innovation Center provides further testament to the company’s ongoing investment in Toronto, Ontario and Canada.”
Dr. Eric Hoskins, Minister for Ontario Economic Development, Trade and Employment, said Cisco continues to demonstrate its commitment towards the province of Ontario.