Rogers announces comprehensive $3 billion investment proposal to benefit Quebec

Rhea-AI Summary

On September 25, 2020, Rogers announced a $3 billion investment proposal aimed at enhancing connectivity, creating jobs, and driving economic growth in Quebec. This plan includes expanding 5G coverage to 95% of the population and creating up to 300 skilled jobs through a new tech innovation hub. The investment will also maintain Cogeco’s brand and headquarters in Quebec, ensuring 5,000 jobs in a combined entity. Additionally, Rogers plans to upgrade services for existing Cogeco customers and sustain community partnerships.

Positive

• Investment of $3 billion in Quebec over five years.
• Expansion of 5G coverage to 95% of Quebec's population.
• Creation of up to 300 new tech jobs at a Centre of Excellence.
• Commitment to maintain Cogeco's operations and brand presence.

Negative

• None.

Rogers unveils investments to honour Cogeco’s legacy, expand rural connectivity, accelerate 5G coverage to 95% of Quebecers and create hundreds of highly skilled jobs with new tech innovation hub

MONTREAL and TORONTO, Sept. 25, 2020 (GLOBE NEWSWIRE) -- After 35 years of building in Quebec, Rogers today unveiled a $3 billion investment proposal to bring connectivity, jobs and economic growth to Quebec should it be successful in its bid to acquire Cogeco’s Canadian assets.

“Rogers is deeply committed to the future of innovation and the knowledge economy in Quebec. We would be honoured to help enhance the customer experience and bring new investments including 5G that will fundamentally reshape the economic landscape of Quebec,” said Joe Natale, President and CEO, Rogers Communications. “This is about the future, and helping ensure that Quebec’s ambitions around innovation, connectivity, health and education advancements are fully realized.”

Building off its base of 3,000 Quebec employees and nearly two million Quebec customers, Rogers new plans would include:

Growing jobs and powering economic growth:

• Investing a total of $3 billion in Quebec over the next five years, which includes $1.5 billion in network investments;
• Ensuring 5,000 jobs in Quebec for a combined Rogers/Cogeco entity;
• Maintaining Cogeco’s headquarters in Montreal with a Quebec President leading its business in Quebec;     
• Maintaining the Cogeco brand in Quebec; and
• Continuing relationships with local suppliers and contractors.
  

Driving a made-in-Quebec innovation agenda:

• Expanding the rollout of 5G throughout Quebec, with a commitment to having 95% of the population covered over the next five years; and
• Establishing a tech innovation hub in Quebec, which would create up to 300 highly skilled new technology jobs as a Centre of Excellence in artificial intelligence, software engineering and digital technology.

Expanding rural connectivity and enhancing the customer experience:

• Building on Cogeco’s rural expansion commitments and establishing a rural connectivity partnership with the Quebec government to reach an additional 100,000 households.
• Upgrading services for existing Cogeco customers with the roll-out of Rogers next-generation connected home services, including Ignite Internet - the foundation of the home - that offers a personalized WiFi experience with the Ignite WiFi Hub; leading IPTV service with Ignite TV; Ignite SmartStream, a streaming platform that incorporates the most popular apps with voice search; and Smart Home Monitoring that allows customers to secure and control their home from anywhere.

Promoting culture and community partnerships:

• Continuing Cogeco’s existing community partnerships and launching a new student technology scholarship program;
• Continuing to sponsor major sporting and cultural events, including exploring ways to bring more major events to Quebec; and
• Establishing a French language training fund for Rogers employees outside of Quebec.
  

“We understand the importance of reaffirming our strong commitment to Quebec,” said Natale. “Rogers stands ready to be Quebec’s partner in building world-class networks to help make it a global leader in technology and innovation.”

Over the last 10 years, Rogers has invested more than $2 billion in its wireless network in Quebec and offers wireless services across the province. In January, Rogers started the rollout of Canada’s first and largest 5G network in Montreal, and expanded the Rogers 5G network to Quebec City, Gatineau and Trois Rivières earlier this month.

Last year, a PwC study commissioned by the company indicates that Rogers investments and operations resulted in a total economic footprint in Quebec of over $2.7 billion of output, including over 11,000 full-time jobs generated and supported.

About Rogers
Rogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). If you want to find out more about us, visit about.rogers.com.

For further information: media@rci.rogers.com, 1-844-226-1338

FAQ

What is Rogers' investment plan for Quebec?

Rogers plans a $3 billion investment to enhance connectivity and create jobs in Quebec.

How will Rogers improve 5G services in Quebec?

Rogers aims to expand 5G coverage to 95% of Quebec's population within five years.

What jobs will Rogers create in Quebec?

Rogers will create up to 300 technology jobs through a new innovation hub.

How many jobs will be maintained through the Rogers-Cogeco merger?

The merger is expected to maintain 5,000 jobs in Quebec.

What is the impact of Rogers' investment on the local economy?

Rogers' investment is projected to contribute significantly to local economic growth and job creation.