Vernile Announces Ontario Boosting Innovation Economy, Supports New Jobs in Kitchener
Ontario Boosting Innovation Economy and Supporting New Jobs in Kitchener
Ontario is partnering with Miovision Technologies to help the company scale up in an innovative new facility in Kitchener, creating 275 new jobs and retaining 109 existing positions.
Daiene Vernile, MPP for Kitchener Centre, made the announcement today at Miovision Technologies on behalf of Jeff Leal, Minister Responsible for Small Business.
Miovision is a leader in technology that is driving the development of smart cities by transforming the way traffic networks are managed. Miovision’s innovations in traffic technology have made it possible for cities to improve traffic flow, traffic planning, and safety for road users. Miovision-powered smart intersection technology is also preparing cities for the future of connected and autonomous cars.
With support from the Southwestern Ontario Development Fund, Miovision has moved to Catalyst137, a new Internet of Things innovation centre in Kitchener. The new facility provides space for additional employees and allows the company to expand research and development, conduct more efficient product testing and meet increasing market demands. With these enhancements, Miovision is strengthening its competitiveness as it expands into new markets.
Supporting information and communications technologies in the Kitchener-Waterloo region is part of Ontario’s plan to create fairness and opportunity during this period of rapid economic change. The plan includes a higher minimum wage and better working conditions, free tuition for hundreds of thousands of students, easier access to affordable child care, and free prescription drugs for everyone under 25 through the biggest expansion of medicare in a generation.
“Ontario is pleased to partner with Miovision, a true homegrown success story. This is a leading information and communication technology company that is driving innovation in the ICT marketplace and shaping the future of smart cities. Our investment through the Southwestern Ontario Development Fund is helping the company accelerate its growth, increase its global competitiveness, create highly-skilled jobs and strengthen the regional economy in Kitchener.” — Jeff Leal, Minister Responsible for Small Business
“The Ontario government is pleased to support innovative businesses such as Miovision Technologies. Our investment means this home-grown company will create hundreds of highly-skilled jobs here in Kitchener, providing a boost to our local economy. I look forward to seeing Miovision further build its global position as a leading provider of advanced traffic signal operations.” — Daiene Vernile, MPP for Kitchener Centre
“Kitchener is a city that has always welcomed technological change—from our early days of industrialization, to the creation of the world's largest IoT manufacturing space at Catalyst137. Today’s investment in Miovision not only helps grow this company and create more well-paying jobs for our community, but forges us ahead towards producing smart infrastructure for smart cities of the future,” said Berry Vrbanovic, Mayor of Kitchener
“We work with cities around the world to make traffic better - whether improving traffic flow, making roads safer, or helping cities plan for streets that accommodate drivers, cyclists and pedestrians. This investment helps us scale up so we can focus on what matters to us the most, making a bigger impact with cities,” said Kurtis McBride, CEO, Miovision
* Founded in 2005, Miovision has offices in Kitchener and Cologne, Germany, serving over 17,000 municipalities worldwide.
* Ontario is investing $1.5 million from the Southwestern Ontario Development Fund, supporting an additional investment of $13.5 million from Miovision Technologies. The project will create 275 new jobs, help to retain 109 existing positions and is expected to be completed by December 2021.
* Since 2013, the Southwestern Ontario Development Fund and Eastern Ontario Development Fund have helped to create and retain 48,000 jobs and have attracted approximately $2.3 billion in investment. The funds cover up to 15 per cent of eligible project costs, with the recipient company funding the remainder from its own resources.
* Ontario is accepting applications for the Southwestern Ontario Development Fund from qualified businesses that are growing and creating jobs. Sectors eligible for the fund include advanced manufacturing, food processing, life sciences, information and communications technology, tourism and cultural industries.
* Ontario’s five-year, $650-million Business Growth Initiative is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale-up and modernizing regulations for businesses.