Google Deepens Investment in Toronto and Canada
Google Deepens Investment in Canada, announces three new offices in Toronto, Montreal and Waterloo
Ruth Porat, Senior Vice President and CFO at Google, is in Toronto today to announce the construction of three new Google offices in Canada along with significant funding for digital skills programming for Canadians. The news coincides with the launch of new research about Google's impact on the Canadian economy.
Google's Growth in Canada
Today, Google is pleased to announce the expansion of its presence in Canada with plans to build three new offices in Waterloo, Toronto and Montreal. By 2022, Google's Canadian offices will accommodate up to 5,000 employees. Google has a long history of investing north of the border. In 2001, Google opened its first Canadian office in Toronto with one employee. Nineteen years later, Google employs more than 1,500 people including engineers, game developers, sales leaders and AI researchers.
Google's Economic Impact in Canada
Google's investment in Canada extends beyond its growing offices. New data illustrates how Google is helping Canadian enterprises of all sizes unlock the prosperity of the internet. According to research released today from Public First, Google's search and advertising products helped generate an estimated $23 billion CAD in annual economic activity for more than 500,000 businesses in Canada last year alone - a total impact equivalent to approximately 1.1 percent of Canada's entire GDP.
"The open web allows any size company or individual creator in Canada to become a global business and reach customers," says Ruth Porat, Senior Vice President and CFO at Google. "Canada's digital economy is now bigger than its forestry, mining and gas industries, and the transition to digital reflects incredible momentum for Canadian businesses leveraging data and online technologies."
Investing in Canada's future workforce
To help Canada's workforce leverage the opportunities presented by digital technologies, Google.org is also announcing today a $2.5 million grant for NPower Canada, a charitable organization that launches underserved young adults into meaningful and sustainable careers. The grant will go towards scholarships for the IT Support Professional Certificate and the IT Automation with Python certificate, to equip Canadians with in-demand tech skills to land new jobs in Canada's booming digital economy.
"We're investing directly in programs that support digital skills training for all Canadians," says Sabrina Geremia, VP of Google Canada. "We're excited to partner with NPower Canada, which has a strong track-record of supporting successful digital careers in IT, and meeting the ongoing demands of Canadian employers."
Google for Startups Accelerator Launch
As part of today's announcements, Google will also be launching the first Google for Startups Accelerator in Canada. The Accelerator will be based in Waterloo, and will be Google's 12th accelerator globally. Google has been working with Canadian founders and ecosystem partners to invest in their potential so more Canadian startups can grow, scale and reach global success.
"Google is committed to helping the Canadian startup ecosystem thrive by investing in an Accelerator in Waterloo," says Steve Woods, Canada Engineering and Waterloo Site Lead. "As the Toronto-Waterloo corridor continues to be a global centre of tech talent and innovation, it's the perfect place for us to expand our footprint and help grow the next generation of founders in Canada."
Attributable quotes
Doug Ford, Ontario Premier
"Google has a global reputation for advancing innovative technology and many people from Ontario have played a pivotal role in the company's ongoing success. By expanding their footprint in Ontario, Google will continue to tap into some of the best talent in the world in one of the most business friendly environments in the world. Ontario is open for business and open for jobs and we welcome investments like the one announced by Google today."
John Tory, Toronto Mayor
"Today's announcement by Google means more jobs and more investment in our city - this is good news for Toronto and Canada. We are the fastest growing city in North America with one of the fastest growing tech and innovation sectors. I am proud that Google recognizes the importance of continuing to grow its presence here and in nearby Waterloo. These investments will ensure Google continues to contribute to our ongoing success story."
Tony LaMantia, President & CEO, Waterloo EDC
"Google has carefully and steadily grown its mandate and presence in Waterloo to become a major, collaborative anchor company in our globally significant tech scene. More importantly, it has strengthened our ecosystem by becoming a magnet for great local and global talent. I congratulate Google for their Waterloo expansion and, along with my peers in Toronto and Montreal, commend their commitment to the Canadian tech scene with genuine enthusiasm."
Pierre Fitzgibbon, Minister of Economy and Innovation and Minister Responsible for the Lanaudière Region
"Economic development and growing wealth are among the Québec government's priorities and these objectives will be achieved by strengthening innovation, boosting exports and increasing foreign investment in this province. The opening of this Google office in Montréal, which will have capacity to welcome up to 1,000 employees, is extremely heartening news. Earlier in December, Québec Premier François Legault met with company executives at Google's headquarters in Mountain View to praise all that Québec has to offer in terms of artificial intelligence and video gaming. Québec is an innovative society in the midst of rapid technological boom and has, once again, been able to attract one of the biggest players in the world."
Google Signs a 400,000 sf Long-Term Office Lease @ 65 King East, Toronto
Carttera Private Equities Inc. (Carttera) announces a major, long-term, downtown Toronto office leasing transaction at 65 King East, which will be home to Google, occupying 400,000 sf of office space across 18 floors in Toronto's newest, next-generation office development.
"We are extremely pleased to announce that 100% of the office floors of 65 King East are now leased to Google: one of the most prominent, influential and well-recognized companies in the world. Our vision for 65 King East has always been to combine innovative office architecture and an employee-centric workplace design with a dynamic, forward-thinking organization. Google truly recognizes how 65 King East promotes sustainability, employee wellness, collaboration, productivity and health," said Dean Cutting, Partner, Carttera. "The fact that Google made a long-term commitment to our project is a testament that we are leading the future of innovative office design. We look forward to a long-term collaborative relationship with Google for many years to come."
65 King East is owned by Carttera in conjunction with institutional co-investors: OPTrust, Manitoba Civil Service Superannuation Board and Investment Management Corporation of Ontario, which will be the long-term holders of the asset. The development's design is a collaboration between world-renowned architects IBI Group and WZMH Architects. 65 King East is currently being built by PCL Construction. Google's tenancy is a consolidation and relocation of offices in the Greater Toronto Area, with occupancy expected in 2021.
"Carttera built 65 King East with next-generation tenants and an evolving downtown core in mind," said Jeff Friedman, Executive Vice President Office Leasing, CBRE. "Google's decision to make 65 King East its new Toronto headquarters underscores the degree to which Toronto's downtown core continues to expand. This is a significant statement of confidence in Toronto's tech market and talent pool."
Together with the efforts of CBRE, this significant transaction is a great match for the growing downtown core, bringing innovation and tech giants into the fold of Toronto's tight office real estate market. With proximity to the TTC and Union Station, this office building also features over 18,000 sf of outdoor terraces, 196 bike stalls and 10,675 sf of retail space, while also incorporating smart building technologies and sustainability. With Wired Score Gold already accomplished, 65 King East has been designed to achieve LEED Gold certification.
About the Principals
About Google Canada
Google's mission is to organize the world's information and make it universally accessible and useful. As a global technology leader, Google's innovations in web search and advertising have made its website a top internet property and its brand one of the most recognized in the world. Google Canada has offices in Waterloo, Toronto, Montreal, and Ottawa with over 1,500 Canadian Google employees working on teams across Engineering, AI Research, Sales and Marketing.
About 65 King EastLocated in the vibrant St. Lawrence neighbourhood, 65 King East is steps from the financial core at King & Yonge, and is less than a 10-minute walk to Union Station with seamless connections to the TTC, Go Transit, Via Rail and the UP Express. 65 King East has dedicated approximately 18,000 sf of terrace space over eight floors, offering expansive views of the city and lake, and is designed with a raised floor HVAC system and exposed concrete ceilings.
About CartteraCarttera is a Canadian real estate investment fund manager and developer. The firm invests its capital in innovative urban intensification development projects and is a leader in environmental sustainability in the Canadian development industry. Carttera's strength lies in its track record of success in originating, structuring and executing complex development projects. Carttera has developed projects extending to over $3.3 billion in total value since its inception in 2005, with primary holdings concentrated in the GTA and Montreal. The firm's projects include a wide range of product types including office, mixed-use, industrial, condominiums and rental apartments.
About CBRECBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. In Canada, CBRE Limited employs 2,200 people in 22 locations from coast to coast.
Press Release #1 | Source Google CanadaPress Release #2 | Source Cattera Private Equities Inc