The investment represents 1 billion Brazilian reals over the next four years. The monies will be spread among the opening of a Cisco center of innovation in Rio de Janeiro; an investment in a Brazil-focused information and communications technology, and digital economy venture capital funding; the expansion of local manufacturing; and joint development with Brazilian companies.

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Cisco says it expects these investments to generate about 800 jobs in Brazil and encourage entrepreneurship. Cisco Brazil has been growing consistently above 20% annually in recent years, the company says.

The Center of Innovation in Rio de Janeiro will develop new technology tailored for Brazil's needs, such as urban development, sports and entertainment, public safety and , education and health care. Cisco expects to inaugurate the center in the second half of 2012, and additional projects addressing oil and gas, and utilities will be added in 2013.

The urban development projects will be aligned with Cisco's initiative to sell technology to modernize the government's information infrastructure and reduce operational cost.