Microsoft has announced plans for a large new Canadian headquarters in downtown in Toronto, what it describes as a “massive new investment.”

The company plans to move into 81 Bay Street, the first of two buildings in the “CIBC Square” complex near the city’s waterfront, currently under construction.

“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,” Microsoft Canada President Kevin Peesker said in a statement.

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The company will occupy 132,000 square feet over four floors of the first CIBC Square tower, a 49-story building slated for completion in 2020.

Microsoft says it has 2,300 employees in Canada, and is planning to hire another 500, on top of an additional 500 internships and co-op placements by 2022.

In all, the company says it plans to invest more than $570 million in Canada over the next three years. On top of the new headquarters, that money will cover an expansion of Microsoft’s artificial intelligence lab in Montreal, as well as investments in the company’s sales offices in Calgary, Montreal, Ottawa and Vancouver.

Keep reading in the HuffPost

 

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