Microsoft just announced something big for Toronto—the tech giant will be opening a new office downtown. 

As part of the move, the company plans to inject $570 million into Toronto. It will create 500 new jobs, and 500 student placements at first, and over 60,000 jobs in the long-term.

Today I announced that our HQ will move to Toronto in 2020, plus the addition of 500 employees over the next 4 years. Microsoft is committed to fueling innovation in Canada. This move will help us further empower businesses and entrepreneurs to do more. https://t.co/jVPbkb1E5p pic.twitter.com/nGe9kuMMC9

— Kevin Peesker (@KevinPeesker) September 11, 2018

The tech giant's new Canadian headquarters will open at CIBC Square at 81 Bay Street, covering four floors of the tower and about 132,000 sq ft. It is expected to open in 2020. 

With the announcement that a giant tech company is coming to Toronto, perhaps Amazon will finally make up their mind and choose Toronto as well. Only a matter of time.