Major Company Pulling Out of Mississauga
One of the biggest companies that’s currently headquartered in Mississauga is set to pack up and leave the city in the not-too-distant future.
Microsoft Canada, which is currently headquartered on Meadowvale Blvd. in Mississauga, recently announced that it will be moving to a new facility at 81 Bay Street (CIBC Square) in Toronto.
The company expects to move into its new digs in Sept. 2020.
As for what prompted the move, Microsoft Canada says the new location will enable the company to better serve its customers, collaborate with its technology partners and attract top talent to a central location that’s well served by transit and more accessible to universities and innovative new tech start-ups.
“Increasingly, Canada is being recognized as a global leader in technology and the investments we are making today and into the future will help ensure Canada continues to be a hotbed of innovation,” said Kevin Peesker, Microsoft Canada President.
“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.”
Comprising 132,000 square feet over four floors of the 81 Bay Street building now under construction, the new Microsoft Canada headquarters represents a significant investment in Toronto’s tech cluster.
Currently, Microsoft employs more than 2,300 employees across Canada.
The company says the Microsoft ecosystem could account for more than 60,000 new jobs by the time its new headquarters opens in two years.
Even Prime Minister Justin Trudeau has weighed in on the news.
“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,” Trudeau said in a statement.
“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.”
Microsoft has had a headquarters in Canada since 1985,
Going forward, Microsoft Canada says it intends to grow staff by more than 500 full-time employees, with an additional 500 co-ops/internships by 2022.
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