Nokia to Spend C$340 Million on Ottawa R&D Hub
October 17 2022 - 10:34AM
Dow Jones News
By Glenn Johnson
Nokia Corp. on Monday said it plans to transform its Ottawa
campus into a research and development facility focusing on
information and communications technology and cyber security.
The telecommunications company said it will spend more than 340
million Canadian dollars ($245 million) on labs and equipment,
labor and operating costs between 2023 and 2027 to transform its
existing site. The expansion is expected to create more than 340
new jobs, the company said.
Nokia said construction at its 26-acre campus at the Kanata
North Business Park in Ottawa is expected to begin next year, with
a goal of opening the new facility in 2026.
The government of Canada is finalizing plans to contribute up to
C$40 million to the project, while the Ontario government will
provide C$30 million. Ottawa is providing C$2 million for control
system upgrades.
The contributions will support the company's long-term
capability in cyber security, research and development and
next-generation technology, including 6G, Nokia said.
Write to Glenn Johnson at glenn.johnson@wsj.com
(END) Dow Jones Newswires
October 17, 2022 11:19 ET (15:19 GMT)
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