Mass media and information firm Thomson Reuters has set aside US$100 million to construct an expansive technology center in Toronto, building on the presence of the temporary tech hub that was established a year ago.
“We are thrilled with the talent we have been able to attract in year one,” said Jim Smith, CEO of Thomson Reuters, in a statement. “The center will house one of Canada’s largest technology hubs dedicated to developing the next generation of products and capabilities for our global customers.”
Expected to be up and running in the first half of 2021, the new center will create more than 1,500 jobs, according to company officials.
The center will be located in Toronto’s Entertainment District, and will feature both formal and informal workspaces designed to enable a variety of work styles. Staff amenities will include a cafe, health club, a bicycle room, and on-site concierge services.
In October 2016, Reuters established an office temporarily in Toronto’s Bremner Tower. There, its employees are focusing on developing solutions in cloud computing, big data analytics, and machine learning.
“Our team operates as a catalyst for our global network of technologists working to provide our customers with the information, expertise, and software they need,” said Shawn Malhotra,Vice President of Thomson Reuters Technology Center. “This building will allow us to bring together our growing team in a collaborative work environment, in a prime spot rooted firmly in the culture and creativity of downtown Toronto.”