Kitchener-based tech company Miovision Technologies is expanding to create 275 new jobs in Waterloo region, Kitchener-Centre MPP Daiene Vernile and Kitchener Mayor Berry Vrbanovic announced on Monday.
The expansion comes with the provincial government investment of $1.5 million into the traffic data company through the Southwestern Ontario Development Fund, which in turn allowed Miovision to obtain $13.5 million in private investments.
"Our investment means this home-grown company will create hundreds of highly-skilled jobs here in Kitchener, providing a boost to our local economy," Vernile said in a news release. "I look forward to seeing Miovision further build its global position as a leading provider of advanced traffic signal operations."
The company already employs 109 employees and Vernile's office said the province's investment helped to keep them working in the region.
Read the full story at cbc.ca.