Ontario, Canada Partners with ViXS on Cutting-edge Mobile Technology
| 07.11.2011 | |||
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Ontario, Canada Partners with ViXS on Cutting-edge Mobile Technology
Ontario, Canada is helping ViXS Systems Inc., a GTA-based semiconductor solutions provider, develop an energy-efficient network media processor that will help power multimedia platforms such as digital televisions, video recorders, set-top boxes and other products. Once enabled, these devices will stream content to multiple mobile devices, including iPads, tablets and smart phones. This innovative project will attract and retain world-class talent, commercialize cutting-edge R&D, and promote Ontario as a global Information Communications Technology (ICT) leader.
ViXS is investing $82.8-million in the project, including $10-million in Ontario government funding. The initiative will create 107 new, highly-skilled jobs at ViXS, on top of 54 existing positions. These new jobs will build upon the 97,700 net new jobs that have already been created in Ontario so far this year alone.
QUOTES
"In 2009, Ontario's ICT sector contributed an impressive $26.7 billion to Ontario's GDP. With this partnership, ViXS is one step closer to providing unparalleled access to streamed media content to enhance the video entertainment experience, and secure Ontario's rightful place as a global ICT leader," said Brad Duguid, Minister of Economic Development and Innovation.
"With support from the Ontario government, we're positioning ViXS as an ahead-of-the-curve leader in digital media delivery. Through this investment, we can increase our world-class employee base, expand our global presence and support the GTA's ever-growing ICT cluster development," said Sally Daub, CEO of ViXS Systems, Inc.
QUICK FACTS
- ViXS recently ranked 29th in PROFIT magazine's 23rd annual ranking of Canada's 200 fastest-growing companies.
- This is the second partnership with ViXS; the first project is ahead of schedule and has already created jobs.
- Ontario is first in North America when it comes to converting foreign investment into jobs with 11,210 new jobs from foreign direct investment projects.
- In 2010, for the second time in a row, The Financial Times of London ranked Ontario second only to California in North America as a recipient of foreign direct investment.
- Since October 2003, Ontario has created 524,100 net new jobs.
- So far, Ontario has created 97,700 net new jobs in 2011.
- As a result of the tax changes implemented in Ontario, taxes on business investment were cut in half, making Ontario more competitive and encouraging business growth.
LEARN MORE
- Find out more about Ontario's Information and Communications Technology sector.
- Review Ontario programs supporting business.