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Xwave newfoundland8/2/2023 ![]() Xwave's vice president Keith Collins said that with its investment of $6 million for a mainframe processing facility in St. Under the new agreement, there is also a commitment to increase subcontracting if government expenditures exceed a base amount. Under the existing contract, xwave subcontracted more than $19.5 million to other local companies. This represents almost 25 per cent of the annual revenue generated from the new agreement. Minister Alyward said the new agreement will make $24 million of work available over the term of the contract for other companies to bid on. "The majority of the specialized jobs created are related to new work that xwave brought into the province from elsewhere." "Contrary to popular misconception, only a small portion of these new jobs are related to providing core IT services to government," Mr. As a direct result of its work under the existing contract, xwave has created 225 specialized IT positions to date, far exceeding the company's contract commitment to create a minimum of 60 jobs. Under the new contract, the company has committed to creating a minimum of 100 new specialized positions. In short, it is about economic development benefits," he said. This is about providing new industrial benefits that enhance the continued development of our IT sector, and the growth of employment in that sector. This is also about bringing in new business from outside the province, and creating specialized IT jobs for Newfoundlanders and Labradorians, right here at home. "This is not just about providing the necessary IT services to maintain government's core administrative functions. He said that as a result of discussions with Nati, the association representing local IT companies, the new agreement differs from the current one in several respects in order to address their concerns. "The tremendous success of the current contract in creating new jobs and industrial benefits was a key factor in our decision to extend the contract," he said. Tulk said the new agreement will not only continue the strong gains in industrial benefits that have already been achieved, but will make more government work available to local IT companies, and will help further the development of the IT sector generally. John's, just one of the significant investments undertaken over the last several years to help build the IT industry in Newfoundland and Labrador. Xwave's vice president Keith Collins also participated in the contract signing, and announced the company will invest $6 million to expand its mainframe processing facility in St. The new agreement is valued at $16.5 million per year, including $2 million in IT work to be subcontracted by government. The announcement was made today by Beaton Tulk, Minister of Industry, Trade and Rural Development, and Treasury Board Minister Joan Marie Aylward. The agreement will result in a minimum of 100 new specialized IT positions in the province, and bring a minimum of $30 million in new business to the province over the term of the contract. ![]() Government today signed a five-year extension to an existing agreement with xwave to provide IT services to government and industrial benefits to the province. ![]() New IT services and Industrial Benefits Agreement announced ![]()
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