Mar 05, 2014
By AM740 Staff
It’s a big boost for Toronto’s economy. Information technology giant, Cisco has named Toronto as the location of one of four new global innovation hubs. The California-based company, which is the world’s largest maker of computer-networking equipment, says it will invest 100-million dollars in the Toronto location over the next decade. Cisco’s facility, called the Internet of Everything Innovation Centre, uses technology to collect information from items like car sensors and medical devices for networked data bases. Cisco estimates the industry will be worth 19-trillion dollars by 2022, including 500-billion in Canada.