Toronto is a hub for Canadian technology and innovation, and media company Thomson Reuters is betting big on the city.

The company created the Thomson Reuters Technology Centre a year ago, and has announced a $100 million USD investment and 12-year lease for a new long-term centre location, in addition to new hiring plans.

The new site of the research and development (R&D) centre will move from its temporary location in Bremner Tower to Duncan House (19 Duncan Street) in Toronto’s Entertainment District and will hold up to 1,500 employees by the time the project is completed in 2021.

The new office will feature more informal collaborative workspaces in addition to formal environments to support a variety of working styles, as well as state-of-the-art technology and amenities like a café, health club, concierge services, etc.

“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,” Shawn Malhotra, vice president of the Toronto Technology Centre, says. “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.”

Malhotra tells IT World Canada that the company will be hiring around 400 people by the end of next year, and will reach 200 by the end of 2017. With approximately 150 already, Malhotra says Thomson Reuters is on course to meet these goals and is looking to hire people with experience in its three key technology focus areas: machine learning and cognitive computing, big data and analytics, and cloud computing.

“We’re looking for all sorts of software developers. Those with a background in machine learning and cognitive computing, big data and analytics, and cloud computing, are at a premium for us but our general hiring philosophy is to find the bright motivated people who know how to write some code,” he explains.

Thomson Reuters plans to tap into the Kitchener-Waterloo-Toronto tech corridor and continue to improve products, and create new ones, for its customers. The Toronto R&D centre, Malhotra says, has been pivotal in the development of several flagship company products, such as Eikon, which provides a comprehensive financial analysis for financial professionals making important decisions by collecting and displaying different data sources.

“The Toronto team has contributed to some of Thomson Reuters most important products so far. Now we have a unique opportunity here to build an even better, dynamic culture from the ground up at our new space while producing great products for our customers,” Malhotra concludes.

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