-NEC is steadfastly behind R&D in Australia and is recommitting its business activities in Victoria for 10 more years," said CEO Isamu Shiroki. -Since 1989 we have invested more than AU$413 million in R&D locally and exported technologies valuing some AU$1,109 million," he added.
NEC won a contract to supply Telstra with broadband products and solutions in October.
Victorian premier Steve Bracks welcomed the announcement, saying -This AU$70 million investment is a huge win for the local ICT industry and means NEC has committed to research and development in Victoria for the next decade."
According to the state government, an economic impact analysis by KPMG found NEC's R&D facility will generate a further 230 jobs across the sector and an additional AU$17 million annually for the Victorian economy.
