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OCIF doles out $7 million to multinational tech company Mphasis

Mphasis, a global information technology firm, will be the latest recipient of cash from the city’s Opportunity Calgary Investment Fund (OCIF).

The announcement was made Thursday and will see Mphasis receive $7 million over the next four years to drive intermediate and senior level tech talent to Calgary.  The cash will be used to expand a talent pipeline with the recruitment of up to 560 technology and professional workers to the city.

They will also create work-learning opportunities for up to 100 students.

“Calgary is a thriving tech innovation hub, and at Mphasis we are committed to growing and creating a competitive workforce here, by not only attracting professional talent that will help transform the businesses of our global clients, but also investing in creating new talent from within the local ecosystem, in working with the universities as well as by reskilling existing professionals from other industries,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

Mphasis, a company that provides cloud and cognitive services, opened a downtown Calgary office in June 2022. The company has offices all over the world, with a corporate office based in Bangalore, India.

Since the fund was first established in 2018, OCIF has allocated $75 million to 24 projects. They say it has led to investment commitments of between $773 million and $1 billion.

Downtown catalyst

While office to residential conversions have been all the rage in a rethink of Calgary’s downtown, there’s still a desire to have the workplace be a strong contributor to the downtown vibrancy.

“OCIF’s investment into Mphasis to expand Calgary’s talent pipeline shows the world we have an ambitious, collaborative, business-friendly environment that supports the growth of innovative companies in the heart of our city,” said Mayor Jyoti Gondek, OCIF Board of Directors.

According to Brad Parry, President and CEO of Calgary Economic Development and CEO of OCIF, having Mphasis in the downtown puts an emphasis on innovation in the city’s core.

“Talent attraction is a global competition and OCIF’s support of Mphasis demonstrates we are a city making the impactful investments necessary to expand our skilled workforce, drive future economic growth and accelerate the momentum in our innovation ecosystem,” said Parry.