Canada’s favourite coffee chain is moving its headquarters from the suburbs to downtown Hogtown.
The company announced earlier this year that it will be relocating from Oakville to a 6,000-square-metre space in the Exchange Tower, right in the heart of the city’s financial district.
Timmy’s isn’t the first company to make the move from the suburbs to downtown. In fact, this is part of a larger trend that has been happening all across North America. Global corporations like Microsoft, Google and McDonald’s have all moved their headquarters from suburban areas to downtown cores.
Why the exodus? Despite the higher cost of downtown space, many corporations see the benefits of being at the heart of the action. It’s easier to attract younger workers with a downtown office, and that location helps bring the company closer to both its customers and peers from other businesses. The move also helps the company reduce its carbon footprint, as more of their employees can rely on public transit instead of cars to get downtown.
As for the specific reasons Tim Horton’s is making the move, President Alex Macedo said the corporation will now be closer to its business partners. Being downtown, Macedo said, will also enable Tim’s to “better use technology to serve customers and help keep abreast of industry trends.”
Tim Horton’s HQ will leave Oakville – where it’s been for more than 50 years – by the end of the year.