Thomson Reuters Announces $100 Million Toronto Technology Centre Expansion
One year after the launch of the a Technology Centre in Toronto, Thomson Reuters today announced a new long-term facility for the Centre, a commitment totaling more than USD $100 million including both capital investments and a 12 year lease.
The new site will be located at Duncan House in Toronto’s Entertainment District and will accommodate up to 1,500 employees with Thomson Reuters taking occupancy in early 2021.
“This investment is indicative of how much potential we believe exists in the area and the leadership role we want to play in Canada,” said Jim Smith, president and chief executive officer, Thomson Reuters.
“We are thrilled with the talent we have been able to attract in year one. Once fully staffed, the Centre will house one of Canada’s largest technology hubs dedicated to developing the next generation of products and capabilities for our global customers.”
In October 2016, Thomson Reuters announced it was opening a technology centre in Toronto. The Centre has been temporarily located in Bremner Tower and focuses on using cloud computing, big data analytics and machine learning (AI) to create better, faster, more intuitive and more secure solutions for customers.
“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, Thomson Reuters Technology Centre.
“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.”