To complement the $53 billion TELUS has invested in Ontario since
2000, TELUS announced today it is investing an additional $17
billion in infrastructure and operations across Ontario through
2024 to further support the province through the Covid-19 pandemic
and subsequent economic recovery. These investments will create
important and tangible social outcomes for us all by enabling
Ontarians to work, learn, access healthcare, and socialize from
home during these unprecedented times. TELUS’ significant
investments include:
- Bringing our blistering-fast 5G network speeds to connect 24
more communities across the province to 5G utilizing our current
spectrum holdings by the end of 2021. The broad deployment of 5G
across our province will contribute to improved health and
educational outcomes for Ontarians, supporting environmental
sustainability, enabling our entrepreneurial spirit, and unleashing
human productivity. It is estimated that 5G will create 250,000
jobs1 and contribute $150 billion to Canada’s economy over the next
20 years2.
- Hiring 10,000 Ontarians primarily in construction, engineering
and emerging technologies at TELUS and through our vast partner
ecosystem now through 2024.
“On behalf of our 8,000 local team members, TELUS
is proud to make this generational investment in Ontario, providing
the technology to connect citizens to loved ones, as well as vital
resources and information as we continue to navigate the global
pandemic,” said Darren Entwistle, President and CEO of TELUS. “Now
more than ever, TELUS is committed to keeping our citizens and
communities connected, productive and healthy through our globally
leading wireless network. Importantly, our world-leading network
will continue to drive the innovation that empowers the diversity
and competitiveness of Ontario’s private sector and improves
economic equality in our digital world, helping us answer the most
pressing social challenges in health, education and the
environment. Indeed, in Ontario’s more remote communities, the
ongoing expansion of our wireless network, including the extension
of our next-generation 5G technology, is bridging time and
distance, allowing residents to live and work in any community
without compromising productivity or economic opportunity. As we
look ahead with optimism to a period of social and economic
recovery, our investments are enabling more Ontarians with
world-best connectivity to work, learn, socialize, access
healthcare and transact safely and effectively from their
homes.”
Here are some of the ways TELUS supported our
customers, team members, and Canadians through the Covid-19
pandemic:
- Our world-class networks accommodated a surge in demand,
including a 120% increase in text, photo, and video messages; a 40%
surge in Internet usage; a 60% increase in average monthly call
volumes; and a 26% increase in TV viewing.
- We gave $85 million to charities across Canada and the world,
representing five per cent of our pre-tax profits -- more than any
other Canadian organization -- to drive meaningful change for our
most vulnerable citizens in 2020 alone.
"As we all work together towards Ontario’s economic
recovery, it is more important than ever for communities in every
corner of our province to have access to the latest communications
technologies,” said Vic Fedeli, Ontario’s Minister of Economic
Development, Job Creation and Trade. “We want to thank TELUS for
their significant investment in Ontario’s economy at this critical
juncture. This incredible $17 billion investment will create 10,000
new job opportunities for Ontario workers, capitalizing on our
talented workforce in the tech, manufacturing, and construction
sectors.”
In addition to the important network investments
referenced above, now through 2024 in Ontario, TELUS is:
- Delivering connected technology solutions through TELUS
Agriculture to Ontario’s farmers, ranchers, and producers to
improve the food supply system through enhanced food traceability,
security, safety and sustainability.
- Further bridging digital divides and socio-economic inequality
by ensuring that safe and quality healthcare is accessible for all
Ontarians through the use of TELUS Health’s digital solutions. In
the near future, 5G will improve health experiences for Ontarians
with faster, more secure connections for video health consultations
and remote health monitoring. Eventually, remote surgeries will be
made possible as innovation is enabled by our robust networks.
- In 2020 TELUS announced partnerships with the University of
Windsor and St. Clair College to make each institution a 5G
Connected Campus. TELUS will operate these networks at no cost to
the institutions, providing complementary connectivity to students,
faculty, and researchers, and even collaborating on research
projects to further understanding and use cases of 5G
technologies.
- Committing to further our position as a global leader in social
capitalism and the most giving company in the world by supporting
charities across Ontario financially and with important volunteer
hours, and expanding our For Good programs to help more Ontarians.
- This includes deploying the Parkdale Queen West Mobile Health
Clinic powered by TELUS Health throughout the mid-west region of
Toronto to provide essential primary health and harm reduction
services directly to Ontarians; giving youth and young adults
transitioning from care a free smartphone and data plan for two
years to help them as they build their independence through TELUS
Mobility for Good; and offering low-income seniors across the
province a heavily subsidized data plan for $25 per month through
TELUS Mobility for Good for Seniors.
These investments build upon TELUS’ continued
commitment to bring world-class connectivity to communities across
the province, providing the technological backbone for Ontario’s
economic recovery and strength well into the future. Since 2000,
TELUS has invested nearly $240 billion nationally in network
infrastructure, operations and spectrum across Canada, including
more than $53 billion in technology and operations in Ontario.
The investments announced in this media release are
consistent with TELUS’ capital expenditure guidance for 2021, as
updated in TELUS’ first quarter 2021 earnings’ release dated May 7,
2021, and our planned future capital expenditure plans, including
our accelerated broadband build, as outlined in our March 2021
equity offering news release dated March 25, 2021.
Forward-Looking StatementsThis
news release contains statements about future events and plans that
are forward-looking, including relating to TELUS’ infrastructure
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’ 2018 and first quarter 2019
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 statement 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.
About
TELUSTELUS (TSX: T, NYSE: TU) is a dynamic, world-leading
communications technology company with $16 billion in annual
revenue and 16 million customer connections spanning wireless,
data, IP, voice, television, entertainment, video, and security. We
leverage our global-leading technology and compassion to 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. In
2020, TELUS was recognized as having the fastest wireless network
in the world, 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 delivers next-generation AI and content management solutions
for global brands across the technology and games, ecommerce and
FinTech, communications and media, healthcare, travel and
hospitality sectors. TELUS and TELUS International operate in 25+
countries around the world. Together, let’s make the future
friendly.
Driven by our passionate
social purpose 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 $820 million and 1.6 million days of service since 2000. This
unprecedented generosity and unparalleled volunteerism have made
TELUS the most giving company in the world.
For more information
about TELUS, please visit telus.com, follow us @TELUSNews on
Twitter and @Darren_Entwistle on Instagram.
For media inquiries, please
contact:
Brandi Rees TELUS Public
Relationsbrandi.rees@telus.com
______________________1 Based on a recent
report from Accenture.2 Based on a recent report from GSMA
Telus International CDA (TSX:TIXT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Telus International CDA (TSX:TIXT)
Historical Stock Chart
From Jul 2023 to Jul 2024