Funds will support $80 million private sector investment, create 126 jobs
TORONTO—The government of Ontario has announced a $12 million investment in the Thales Group’s Toronto operations.
With funding made available through the Jobs and Prosperity Fund, the province will partner with Thales’ Worldwide Competency Centre to develop a next-generation rail signalling system for subways, light rail and commuter rail systems.
“Our support for Thales will help it ramp up its research and development work and leverage new and innovative technologies,” Brad Duguid, Ontario’s minister of Economic Development, Employment and Infrastructure, said. “These efforts will allow Thales to strengthen its product offerings in the transportation sector, and increase its global competitiveness.”
The government contribution is part of an approximately $92 million project, and is expected to create 126 jobs at the defence and transit firm’s Toronto office over the next five years. Thales’ signalling technology is currently employed by transit operators in a large number of cities worldwide, including those in London, U.K., New York City, Hong-Kong and Dubai.