Thomson Reuters commits $100m to Toronto technology centre
12 October 2017 | 5108 views | 1
A year on from its launch, Thomson Reuters is doubling down on its Toronto technology centre, committing another US$100 million to the project, which will eventually be home to 1500 staffers working on areas such as cloud computing, big data and AI.
The centre is currently located at the Bremner Tower in downtown Toronto but Thomson Reuters has now signed a 12 year lease on a new nearby site, which will become home in early 2021. Able to house up to 1500 employees, the new office will offer a collaborative workplace environment "designed to promote employee health and wellbeing," says a statement.
“This investment is indicative of how much potential we believe exists in the area and the leadership role we want to play in Canada,” says Jim Smith, president and CEO, Thomson Reuters.
Last year Smith and COO Stephane Bello said they will both relocate to Toronto in 2017 with additional managerial roles moved to the area and recruited locally over the next few years as part of a push by Thomson Reuters to build up its presence in Canada.
The firm already has more than 1200 employees based in Canada. In 2015 it established Thomson Reuters Labs - Waterloo Region at Communitech to drive innovation through applied research and experimentation in partnership with academics, students and startups. The firm is also a sponsor of MaRS Discovery District's LegalX Cluster in Toronto.