Microsoft Canada today announced it’s opening a new headquarters in downtown Toronto. The company’s new headquarters will be built at 81 Bay Street over the next 2 years.

The company plans to offer more than 60,000 new jobs by the time the new headquarters is opened. The new headquarters will compromises of 132,00 square foot, and over floors. “Our Government’s Innovation and Skills Plan is working. Leading tech companies are setting up offices across Canada, hiring Canadian talent, and investing in Canada’s enormous potential as an innovation and tech hub. Microsoft’s latest investment in Canada – totaling $570 million – will create hundreds of new jobs and benefit several cities, from Vancouver to Toronto to Montreal. I know our highly-skilled, diverse workforce will continue to attract tech investment in record numbers – growing our economy and creating new opportunities for Canadians across the country,” said Justin Trudeau, Prime Minster of Canada.

Microsoft’s new Canadian HQ seems like a promising investment from the firm, and could lead to further investments in the Canadian economy going forward. The firm already announced some of the future investments its going to make, including:

grow staff by more than 500 full-time employees, with an additional 500 co-ops/internships by 2022

invest $21 M in Azure credits to the Canada’s Supercluster initiative

in Azure credits to the Supercluster initiative invest $10M over 5 years into Cascadia innovation corridor which is formed between Washington and British Columbia to create new economic opportunities

over 5 years into Cascadia innovation corridor which is formed between and to create new economic opportunities invest more than $570M in next 3 years in fixed assets in the country, including relocation and expansion of its research and development lab in Montreal , relocation of its Vancouver sales office, renovation and redesign of its Ottawa , Calgary and Montreal sales offices, and the relocation of its Canadian Headquarters

The company’s new Canadian HQ joins its multibillion-dollar campus overhaul planned to be finished within the next 5-6 years.

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