Nokia expands its presence in the US market
Nokia, the Finnish telecom giant, has announced its plans to establish a new state-of-the-art research and development (R&D) facility in New Jersey, USA. The facility will be located in the tech hub of Bridgewater, where Nokia already has an office. The new R&D hub will focus on developing innovative solutions in the fields of 5G, cloud, artificial intelligence (AI), and cyber security.
The project is expected to create over 300 new jobs and attract top talent from the US and around the world. Nokia aims to complete the construction of the facility by 2025 and start operations by 2026. The company said that the new R&D hub will enhance its capabilities to deliver cutting-edge products and services to its customers and partners in the US and globally.
Nokia receives support from the US government and partners
Nokia’s investment in the new R&D facility is supported by the US government and its partners, who have recognized the strategic importance of the project for the country’s digital transformation and national security. The US Department of Commerce has awarded Nokia a grant of $50 million under the Build Back Better Regional Challenge, a program that aims to foster regional innovation and growth. The grant will help Nokia to develop and deploy advanced wireless technologies, such as 5G and beyond, in collaboration with local stakeholders.
Nokia has also partnered with the New Jersey Economic Development Authority (NJEDA), which has approved a 10-year tax incentive package worth up to $100 million for the project. The NJEDA said that the project will generate significant economic benefits for the state, such as increased tax revenues, job creation, and innovation spillovers. The NJEDA also praised Nokia for its commitment to sustainability and diversity, as the company plans to use green building practices and hire a diverse workforce for the new facility.
Nokia strengthens its position as a global leader in 5G and ICT
Nokia’s decision to build a new R&D hub in New Jersey reflects its ambition to strengthen its position as a global leader in 5G and information and communications technology (ICT). The company said that the new facility will enable it to accelerate the development and deployment of its Nokia Bell Labs innovations, which are at the forefront of 5G and ICT research. Nokia Bell Labs is the company’s renowned research arm, which has a long history of pioneering breakthroughs in wireless communications, such as the invention of the cellular phone and the transistor.
Nokia also said that the new R&D hub will support its growth strategy in the US market, where it has a strong presence and reputation. Nokia is a major supplier of 5G equipment and services to the leading US carriers, such as AT&T, Verizon, and T-Mobile. The company also provides critical infrastructure and solutions to various industries and sectors, such as transportation, energy, health care, and public safety. Nokia said that the new R&D hub will help it to meet the evolving needs and expectations of its customers and partners in the US and beyond.
