American technology giant Motorola Solutions has announced it will be establishing an innovation center in Israel that will deal with cyber, analytics, mobile and the Internet of Things.
On Wednesday night, Prime Minister Binyamin Netanyahu met with Motorola Solutions Chairman and CEO Greg Brown in Jerusalem, where the decision was formally announced.
The move will be a boost to the Israeli economy, providing jobs and helping to encourage future investments in the Jewish state.
Motorola Solutions noted that it views its Israeli branch "as a strategic asset and that the establishment of the aforesaid center expresses its continued long-term commitment to Israel and Israeli industry, which began in the 1970's with the establishment – in Israel – of the company's first development center outside North America.
"The new development will entail the recruitment of additional workers from Israel's talent pool and express the deepening of the company's commitment to the start-up nation. To this end, the company intends to increase its investment in Israel by establishing the innovation center that will produce new technological developments for export to the entire world.
"Motorola Solutions believes that this is yet another opportunity to link up with the innovation of the start-up nation and leverage the outstanding local talent.
Lauding the move Wednesday night, Netanyahu told Brown the "Startup Nation" was the natural place for Motorola Solutions
"You’re in the right place in the right country in the right business. That’s a very good match," he said.
"I hope that other multi-national companies in the development of technologies come to Israel because they’ll benefit."
Brown, who thanked Netanyahu as "a dear friend," said his company was "thrilled" to increase its investment in Israel.
"The primary reason for my visit, among other things, is to tell you that I think there’s ways we can deepen our partnership – specifically, around an innovation center," Brown stated.
"When we think about additional PhDs, data scientists, hi-tech resources around analytics and cyber, Motorola wants to put more resources here in Israel. This is an outstanding area for innovation, technology incubation, joint venture investment
"What we have decided to do is that in addition to the US, specifically Silicon Valley, we will invest in start-up companies here in Israel, emerging nascent technologies, next-generation, that I think will allow us to differentiate our solutions and technologies and strengthen the competitive effectiveness of Israel."