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Global Tech Giant OpenText Invests $2 Billion To Double Its Workforce In Ontario, Canada

Area Development Online News Desk (04/25/2014)
Ontario, Canada is partnering with technology leader OpenText to support the company’s expansion and create as many as 1,200 jobs in the province. OpenText will invest up to $2 billion to expand its Ontario operations, supported by a provincial grant of up to $120 million.

OpenText, Canada’s largest software company, will carry out its key research and development work on cloud computing in Ontario. Jobs created by the project will include high-value research and development positions, as well as in marketing, human resources, accounting and facilities management.

“At OpenText, our employees are our most valuable assets, and our commitment today validates the strength of the technology talent pool in Ontario. We are an Ontario-grown global company. And we chose to invest here because of the highly educated workforce, our strong university partnerships in R&D, as well as the province’s robust and innovative startup communities. This initiative is about immediate and long-term job creation at OpenText. A strong OpenText means a stronger Ontario,” Mark Barrenechea, President/CEO of OpenText, noted.

The firm plans to hire its workforce from the Waterloo Region, Toronto, Richmond Hill, Peterborough, Kingston and Ottawa. The project is expected to create up to 1,200 new jobs over the next seven years to expand the company’s Ontario workforce to just over 2,400 employees. Ontario’s business support is contingent on the company meeting investment and job targets. Projects are closely monitored over their lifespan to protect taxpayers’ investment.

The investment bolsters Ontario’s position as North America’s second biggest centre for information and communications technology. Ontario’s highly skilled workforce, R&D incentives and competitive business climate are key factors in attracting new investments from companies such as OpenText.

“Ontario’s technology sector has established a tremendous momentum that has positioned the province front and centre as business leaders around the world make decisions about where to invest and grow. OpenText’s decision to invest and create jobs here in Ontario is a vote of confidence in our tech sector and in the talented people who help it thrive and grow. This is about advanced technology, but it’s also about everyday people – ensuring that families have stable employment and that young people in school have prospects when they graduate,” Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment explained.

“This investment is a terrific example of how government can partner with business to help create jobs and grow the economy. OpenText is a great Ontario success story, and we are proud to support its continued growth here in the province in the Waterloo Region, Toronto, Richmond Hill, Peterborough, Kingston and Ottawa,”said Kathleen Wynne, Premier of Ontario.
Expand Ontario, Canada is partnering with technology leader OpenText to support the company’s expansion and create as many as 1,200 jobs in the province.
Close Ontario, Canada is partnering with technology leader OpenText to support the company’s expansion and create as many as 1,200 jobs in the province.
Ontario, Canada is partnering with technology leader OpenText to support the company’s expansion and create as many as 1,200 jobs in the province. OpenText will invest up to $2 billion to expand its Ontario operations, supported by a provincial grant of up to $120 million.
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