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“They will do mainly engineering — both hardware and software systems — (and) some business roles in the space,” Rauch said. “So all the factors of developing product, marketing a product.”

In the case of Microsoft, the company announced Tuesday that it will be opening a new office in downtown Toronto covering four floors in the CIBC Square building currently under construction at 81 Bay St.

Microsoft also said they plan on adding 500 jobs by 2022, along with another 500 positions for co-ops and interns.

In both announcements, the companies said their expansion plans were driven by a search for qualified workers.

“This is one of the most active, dynamic centres for graphics enthusiasts — from the hardware all the way to games, and workloads, and AI (artificial intelligence),” Rauch said.

“For us, it’s extremely exciting to partner with this dynamic and vibrant community.”

Microsoft Canada president Kevin Peesker called Toronto a “hotbed of innovation” and said the move downtown from Microsoft Canada’s current headquarters in Mississauga will help keep the company competitive.

“By relocating our headquarters to downtown Toronto, we will be able to better serve our customers and attract top talent to continue to drive innovation and growth for our Canadian customers and our large partner ecosystem.”

Toronto’s tech sector is particularly hot right now.Last year the World Economic Forum ranked Toronto eighth in terms of the world’s most high-tech cities, and earlier this year CBRE reported that tech jobs in the city are growing at a faster pace than in Silicon Valley.