Thomson Reuters today announced a major expansion to its Canadian operations with opening a new technology centre in Toronto and plans to move its chief executive and chief financial officer to the Canadian city next year.

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The new technology hub will add approximately 1,500 jobs in Canada over time, with 400 high-quality technology positions to be created over the next two years, mostly by hiring from the local market.

Thomson Reuters has more than 60,000 employees around the world, developers in 43 countries and five large hubs while retaining its principal executive office in New York City. Toronto will be the sixth and its centre will be initially located in Bremner Tower.

The global information and media company also announced that its Chief Executive Officer Jim Smith and Chief Financial Officer Stephane Bello, as well as others, will be relocating to Toronto in 2017. Thomson Reuters has moved more senior staff into Canada over the past year, where the company currently has 1,200 workers, before the latest initiative.

Roots in Canada

“Today’s news is an example of how great things can happen when the public and private spheres work together – for the betterment of Canadian workers, and Canadian families,” said Canadian Prime Minister Justin Trudeau.

“Canada is not only our home, it is home to an emerging ecosystem of world-class technology talent,” said Jim Smith, president and chief executive officer of Thomson Reuters.

“Our new Technology Centre furthers our commitment to growing Canada’s preeminent hub of innovation, and to building the customer-centric platforms and solutions of the future. We applaud the Canadian federal, provincial and municipal governments for making jobs, innovation and the knowledge economy a top priority and look forward to our role in supporting these initiatives,” he added.

Thomson Reuters was formed in 2008 through the merger of Thomson Corp. and Reuters Group PLC. The company originated in Ontario in the 1930s and owned a national chain of newspapers, before it diversified and evolved into a global news and information service.