Thomson Reuters announces $124 million expansion of Toronto technology centre

Thomson Reuters is dedicating $124 million towards establishing a permanent presence for its technology centre in Toronto, just one year after the launch of its first tech hub in the city.

The Centre has been temporarily located in Bremner Tower, and at the time of its opening, the organization said it planned to create 1,500 jobs. The Centre focuses on developing cloud computing, big data analytics, and machine learning solutions for customers.

“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, CEO of 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.”

This long-term facility, which will be located in Toronto’s Entertainment District, is expected to be ready for occupancy at the beginning of 2021 and will accommodate up to 1,500 employees. The new office will come with amenities like a café, health club, and on-site concierge services.

Through the Centre, Thomson Reuters hopes to foster collaboration Kitchener-Waterloo and Toronto’s tech ecosystems. 

“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 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.”

 

Photo via Markets Insider

Aeman Ansari

Aeman Ansari

Aeman Ansari is a freelance writer who has been published in many Toronto-based publications, including Hazlitt and Torontoist. When she’s not re-watching Hitchcock movies, she’s working on her collection of short fiction inspired by stories from her grandmother, one of the few women in India to receive post-secondary education in English literature at the time.