Newspaper article The Canadian Press

Editorial Exchange: IT Jobs, Not Pipelines, Are the Future

Newspaper article The Canadian Press

Editorial Exchange: IT Jobs, Not Pipelines, Are the Future

Article excerpt

Editorial Exchange: IT jobs, not pipelines, are the future

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An editorial from the Winnipeg Free Press, published Oct. 13:

Thomson Reuters, a worldwide information company, will open a new technology centre in downtown Toronto employing 400 people immediately and 1,500 in a few years. In the context of Canadian economic stagnation and sluggish employment growth, the Oct. 7 announcement by the Canadian-owned multinational company suggested a possible growth path for the Canadian economy.

Thomson Reuters has until now been centred in New York, but the controlling shareholders, the Thomson family, are at home in Toronto. The president and chief executive officer of Thomson Reuters, Jim Smith, and the chief financial officer, Stephane Bello, will relocate to Toronto in 2017 as the new technology centre takes shape. The corporate centre drifted away from Toronto in 2008 when the Thomsons bought the London-based Reuters agency. Now, in a certain sense, the company is coming back home.

The company decided it needed to bring all its technology innovators together into one centre where they could support and encourage each other. It decided the cluster of information technology universities and employers in the corridor extending from Toronto to Waterloo could ensure a rich mix of technology talent and a steady stream of software development graduates from local universities.

Thomson Reuters started moving in this direction a year ago when it established Thomson Reuters Labs -- Waterloo Region to drive innovation through applied research. Also in 2015, Thomson Reuters began sponsoring an innovation hub in Toronto to foster technology advance for the legal industry. With those initiatives behind it, the company had a solid basis for launching its Toronto technology centre.

Canada has prospered in the past by extracting natural resources. It started four centuries ago with beaver pelts. More recently, we have been cutting trees, growing cattle and wheat, digging up metals and drilling for oil and natural gas. …

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