One of Waterloo Region’s biggest tech companies is ready to get even bigger.
OpenText announced Friday that it plans to spend $2 billion over the next seven years to expand its workforce by 1,200 people of them – including many at its Waterloo base.
That number includes a $120-million grant announced by the province.
“I’m pretty sure there were other places you could have gone … and you chose Ontario,” Premier Kathleen Wynne said at a press conference.
“You’re making a major investment across this province, and we are happy to support that.”
The largest software company in Canada, OpenText currently employees about 8,200 employees in 63 countries.
Of that number, 1,300 are employed in Ontario.
Company CEO Mark J. Barrenechea told a crowd of media, politicians and business leaders that OpenText has been asked to leave Waterloo for any number of American destinations, but always turned those requests down.
“We’re very proud to be an Ontario company,” he said, pointing to the province’s tech sector talent pool as a strong reason behind them staying put.
In addition to the Waterloo Region jobs, Friday’s announcement will lead to hiring in Toronto, Richmond Hill, Peterborough, Kingston and Ottawa.
Those hired will work in research and development, marketing, human resources and other departments, and five per cent of the jobs will be reserved for workers under the age of 30.
Progressive Conservative leader Tim Hudak called the announcement “$2 billion (of) corporate welfare” and said the money should have gone to cutting taxes for all businesses.
With files from The Canadian Press
