An American company is investing more than $200 million over five years to expand the research and development of technology like semiconductors in Ontario, the provincial government announced Monday.
Marvell Technology Inc. is putting $238 million into a five-year expansion of its Ontario business. The investment will go towards a new Toronto office and more semiconductor research and development in Ottawa and York Region. Marvell is also creating a new 8,000-square-foot optical lab in Ottawa. The company says this new money will lead to 350 new technology jobs.
“Ontario is proud to support Marvell Technology’s expansion, which will not only create hundreds of new, high-value jobs across our tech corridor, but reinforce the province’s leadership in the critical semiconductor industry,” said Vic Fideli, provincial Minister of Economic Development, Job Creation and Trade.