State Incentives Inspires $19.9 Million Thomson Reuters Expansion Project
Thomson Reuters provides technology and information services to the financial, legal, tax and accounting, and intellectual property and science markets. It also includes the Reuters news organization. The vast majority of local employees work in the company’s Tax and Accounting business — in a unit that provides accounting, tax, and practice management software and technology infrastructure to the accounting profession in the U.S. and Canada.
The Tax and Accounting business of Thomson Reuters has approximately 1,100 employees in the Ann Arbor area and is growing. As part of the project, Thomson Reuters will make a qualified capital investment of $19.9 million and add at least 300 jobs locally over the next five years.
“We have an exceptional workforce and deep roots in the community, so we’re pleased and proud to continue growing in the Ann Arbor area,” said Jon Baron, Managing Director of the company’s Professional segment, which is based in Dexter. “The economic development support from the state is an important factor in our decision.”
Ann Arbor SPARK provided assistance to the company in securing incentives from MEDC and working with Pittsfield Charter Township, which will consider supporting the project in the form of property tax abatement.
"Thomson Reuters is a global brand that has thrived in the Ann Arbor region over a period of sustained, long-term growth," said Paul Krutko, President/CEO of Ann Arbor SPARK. "The company chose to expand here not only because of our workforce, but also because the local community and state continue to be active partners in offering support. Having a company like Thomson Reuters in the Ann Arbor region is important: As a leading employer, it is a highly visible success story that attracts the attention and interest of innovative companies and IT professionals."
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