TELUS investing $70 billion in Canada through 2029 to enhance connectivity, support Canadian AI leadership and fuel economic growth

Associated Press

6 days ago

Investment to support sovereign AI data factories in B.C. and Quebec, improve wireless coverage in rural areas and reduce GHG emissions with environmentally-friendly technologies
VANCOUVER, BC, May 27, 2025 /CNW/ - TELUS is investing more than $70 billion over the next five years to expand and enhance its network infrastructure and operations across Canada. As the country navigates a challenging economic environment and seeks to attract more investment to stimulate growth, this commitment to Canada's future will help fuel homegrown innovation and support the prosperity of urban and rural communities. This investment builds on an impressive track record, with TELUS investing more than $276 billion since 2000 to boost productivity and support a robust national economy.
'For more than 125 years, TELUS has been headquartered in Western Canada, building a legacy of advancing our country's economic and social prosperity. Indeed, against a backdrop of macroeconomic uncertainty, TELUS stands as one of the few companies committing to bold, future-focused technology investments. We recognize that sustained, transformative capital deployment is not only critical for advancing digital inclusion, but also for unleashing Canada's full economic potential in the years to come,' said Darren Entwistle, President and CEO of TELUS. 'The $70-billion investment we are making across Canada transcends traditional connectivity; it is powering advanced digital services, fuelling innovation across all sectors of the economy and propelling our productivity as a nation. Moreover, this investment is a cornerstone of Canada's competitiveness on the global stage, driving critical transformational change and advancing our leadership in Canadian AI sovereignty, innovation and development. Crucially, TELUS' capital investments empower a more resilient and inclusive society, enabling us to remediate the environmental state of our planet through technology virtualization and bridge socio-economic and geographic divides, particularly in rural and Indigenous communities. Through our team's passionate efforts, we are ensuring that all of our fellow Canadians can fully participate in, and benefit from, the digital economy and our digital societies for generations to come.'
Now through 2029 in Canada, TELUS is:
Additionally since 2000, TELUS, our team members and retirees have provided $1.8 billion in cash, in-kind contributions, time and programs, including 2.4 million days of volunteerism to communities in Canada and around the world.
These investments are consistent with TELUS' capital expenditure guidance for 2025 as disclosed in the company's fourth quarter 2024 results and 2025 targets news release dated February 12, 2025 and in the company's first quarter 2025 results news release dated May 9, 2025.
TELUS also embraces tax morality as a means of further investing in our communities. Since 2000, TELUS has paid approximately $61 billion in total tax and spectrum remittances to our federal, provincial and municipal governments across Canada, consisting of corporate income taxes, sales taxes, property taxes, employer portion of payroll taxes, various regulatory fees and spectrum remittances, including more than $2.3 billion in taxes in 2024 alone. These funds support public works projects, education, healthcare, cultural pursuits and other initiatives that improve the social and economic well-being of our communities.
Forward Looking Statements
This news release contains statements about future events and plans that are forward-looking, including statements relating to the amount of TELUS' planned investments and the specific projects and investments we are pursuing now through 2029. These forward-looking statements are made based on a number of assumptions, including assumptions about future economic conditions and courses of action. Readers are cautioned not to place undue reliance on them as there is significant risk that actual results may vary materially from these forward-looking statements, including as a result of risks relating to regulatory decisions and developments, the competitive environment in which we operate, and our operating and financial results.
The forward-looking statements in this news release are subject to the cautionary note and based on the assumptions, qualifications and risks described in detail in TELUS' 2024 annual Management's discussion and analysis (MD&A) and first quarter 2025 MD&A, which are incorporated by reference herein, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at sedarplus.ca ) and in the United States (on EDGAR at sec.gov ). Forward-looking statements describe TELUS' expectations and are based on our assumptions as at the date of this press release and are subject to change. These statements are made pursuant to the 'safe harbour' provisions of applicable securities laws in Canada and the United States Private Securities Litigation Reform Act of 1995. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.
About TELUS
TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company, generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing 76 million lives worldwide through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company. For more information, visit telus.com or follow @TELUSNews on X and @Darren_Entwistle on Instagram.
For more information, please contact:
TELUS
Tricia Lo
TELUS Public Relations
[email protected]
1 Calculation based on total annual minutes less stat holidays. 2022 data from various health programs across TELUS Health, including acquired LifeWorks organization. Care delivery is defined as support provided through virtual or in-person consults, completed appointments, Rx reviews, absence & disability cases managed and LivingWell Companion calls completed.
SOURCE TELUS Communications Inc.