OTTAWA, July 05, 2022 (GLOBE NEWSWIRE) — TELUS announced today the investment of $23 billion in network infrastructure, operations, and spectrum across Ontario over the next four years and has committed to investing $70 billion overall across Canada by 2026.
“This generational $23 billion investment in Ontario is a true demonstration of TELUS’ long-standing commitment to improving the lives of Canadians by connecting communities from coast-to-coast with our world-leading wireless 5G network,” said Darren Entwistle, President and CEO of TELUS. “Our broadband technology is supporting critical, transformational change in respect of enabling online healthcare, education and teleworking flexibility, and accelerating Canada’s digital economy and society for heightened productivity, competitiveness and human welfare outcomes in the post-pandemic period. Importantly, through our investment, we are supporting the social and economic vibrancy of Ontarians and ensuring that every member of our society has access to the technology that yields the opportunity to realize their full potential.”
These significant investments include:
- Generating new jobs to support Ontario’s growing economy
Generating 9,500 jobs in Ontario over five years, with a focus on construction, engineering, and emerging technologies.
- Delivering 5G to remote communities
With the rollout of the 3.5GHz spectrum through 2022 and 2023, Ontarians will have enhanced access to TELUS’ 5G network through an ultrafast and reliable wireless connection.
- TELUS’ global-leading wireless network was rated the fastest mobile network for the eighth consecutive time by UK-based Opensignal, while also earning the title of North America’s Fastest Mobile Network and being named Canada’s Fastest Mobile Network by Seattle-based Ookla for the ninth consecutive time.
- 5G Core and Multi-Access Edge Computing
TELUS will introduce its 5G standalone network later this year and bring multi-access edge computing (MEC) capabilities further advancing IoT and industry solutions and enabling important innovations in health, agriculture, energy, transportation, and manufacturing.
- Our network and crucial investments will support the digitization of the economy, and our transition to a sustainable future, including through optimization of energy consumption at home, reduction of food waste or intelligent transport systems that result in fewer emissions.
- Supporting Ontario’s agriculture industry
TELUS Agriculture is investing in integrated data management software, helping to scale animal health technology to deliver valuable insights and enable a more sustainable, responsive food supply chain. With a comprehensive portfolio of grower and advisor solutions, TELUS Agriculture is helping to improve both productivity and profitability for farmers in Ontario, notably with field-specific nutrient management programs aimed at increasing fertilizer efficiency and maximizing yield potential.
- Contributing to a greener Ontario and planet
As a global leader in sustainability, TELUS’ network infrastructure and investments are helping us transition to a sustainable future through the digitization of the economy, including optimizing energy consumption at home and reducing food waste through its TELUS Agriculture solutions.
- The 2021 Sustainability Report outlines TELUS’ environmental, social, and governance strategy and priorities which includes the ambitious goal to use 100 per cent renewable energy by 2025. Moreover, TELUS’ world-leading networks enable significant carbon avoidance by providing the networks required for TELUS team members and millions of Canadians to work remotely and avoid commuting; access education, healthcare, and social connections virtually; and enable other businesses to take their workforce virtual leading to less energy consumption in office buildings and fewer commuters on the road.
- To date, TELUS has planted more than 800,000 trees and by the time its millionth tree is planted later this year, it will have planted the equivalent of 20,000 acres of forest, which is nearly five times the size of Killbear Provincial Park.
“This is excellent news for the province of Ontario. Ensuring that all Canadians have access to reliable, high-speed Internet has become increasingly important, and this investment from TELUS will help create jobs, connect Ontario, and contribute towards building an environmentally sustainable Canada,” said The Honourable Gudie Hutchings, Minister of Rural Economic Development. “Through initiatives like the Universal Broadband Fund, the Government of Canada is proud to partner with its provincial counterparts and internet service providers like TELUS to ensure that every Canadian from coast to coast to coast can be connected to high speed Internet.”
From 2000 through 2021, TELUS has invested $220 billion nationally in network infrastructure, operations and spectrum, including more than $57 billion in technology and operations in Ontario. These investments are consistent with TELUS’ capital expenditure guidance for 2022, released in the fourth quarter of 2021 earnings release dated February 10, 2022.
These investments are critical to providing Canadians with access to superior technology that connects customers to the people, resources and information that make their lives better. TELUS is steadfast in its commitment to using technology, team member-led innovation, and human compassion to address the most important societal challenges of this generation and bringing real solutions to the residents of Ontario and across Canada.
TELUS also embraces tax morality as a means of further investing in our communities. Since 2000, TELUS has paid approximately $51 billion in total tax and spectrum remittances to our federal, provincial and municipal governments across Canada, consisting of corporate income taxes, sales taxes, property taxes, employer portion of payroll taxes, various regulatory fees and spectrum remittances, including more than $2.2 billion in taxes in 2021 alone. These funds support public works projects, education, healthcare, cultural pursuits and other initiatives that improve the social and economic well-being of our communities.
TELUS’ innovative approach to leveraging technology in healthcare has supported 22 million Canadians to receive care where and when they need it with virtual visits through the TELUS Health MyCare app, giving Canadians the tools they need to see a doctor or therapist from the safety and comfort of home, directly from their smartphone.
Since 2000, TELUS, its team members and retirees provided over $128 million in cash, in-kind contributions, time and programs and volunteered 1 million hours to charities and community organizations located in Ontario.
“Our government is committed to investing in critical broadband infrastructure to connect the people of Ontario, and we want to thank TELUS for their $23 billion investment in the province’s economy and the 9,500 new jobs it will create. Together, we are one step closer to delivering our bold and ambitious plan to ensure that everyone, no matter where they live, will have access to reliable, high-speed internet by 2025."
– Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade
“This is excellent news for the province of Ontario. Ensuring that all Canadians have access to reliable, high-speed Internet has become increasingly important, and this investment from TELUS will help create jobs, connect Ontarians, and contribute towards building an environmentally sustainable Canada. Through initiatives like the Universal Broadband Fund, the Government of Canada is proud to partner with its provincial counterparts and Internet Service Providers like TELUS to ensure that every Canadian from coast to coast to coast can be connected to high speed Internet.”
– The Honourable Gudie Hutchings, Minister of Rural Economic Development
This news release contains statements about future events and plans that are forward-looking, including relating to TELUS’ infrastructure, operations and spectrum investment plans. By their nature, forward-looking statements require TELUS to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors (such as regulatory decisions and developments, the competitive environment in which we operate, our operating and financial results and our ability to carry out financing activities) could cause actual capital and operating expenditures to differ materially from those expressed in the forward-looking statements.
Accordingly, this news release and the forward-looking statements made in it are subject to the cautionary note and qualified by the assumptions, qualifications and risk factors referred to in TELUS’ 2021 and first quarter 2022 Management’s discussion and analysis, which are incorporated by reference herein, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). Forward-looking statements describe TELUS’ expectations and are based on our assumptions as at the date of this press release and are subject to change. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications technology company with $17 billion in annual revenue and 17 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. Our social purpose is to leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades TELUS has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of TELUS’ global-leading networks, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better.
TELUS Health is Canada’s leader in digital health technology, improving access to health and wellness services and revolutionizing the flow of health information across the continuum of care. TELUS Agriculture provides innovative digital solutions throughout the agriculture value chain, supporting better food outcomes from improved agri-business data insights and processes. TELUS International (TSX and NYSE: TIXT) is a leading digital customer experience innovator that designs, builds, and delivers next-generation solutions, including AI and content moderation, for global and disruptive brands across high-growth industry verticals, including tech and games, communications and media and ecommerce and FinTech. TELUS and TELUS International operate in 28 countries around the world.
Driven by our determination and vision to connect all citizens for good, our deeply meaningful and enduring philosophy to give where we live has inspired TELUS, our team members and retirees to contribute more than $900 million in cash, in-kind contributions, time and programs and 1.8 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. Together, let’s make the future friendly.
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