TCS to invest $300 mln in Arizona by 2026

The IT major on Wednesday announced plans to expand its operations in Arizona, investing more than $300 million by 2026 and hiring more than 220 employees by 2023.

TCS will also continue to expand the reach of its STEM and Computer Science education programs in Arizona by increasing teacher training and online content for students over the next two years. The IT major said the investment plan is to meet the digital transformation needs of its customers.

TCS' flagship Phoenix Business Center, one of 30 TCS facilities in the US, serves more than 50 customers across Arizona. TCS currently has more than 780 employees in the state, helping clients in banking, manufacturing, healthcare, and utilities, manage their IT operations and harness technologies such as artificial intelligence, machine learning, and enterprise software to achieve their growth and transformation objectives. The new positions will be based at the Phoenix center as well as in client offices around the state.

Surya Kant, chairman of North America, TCS said, We are delighted to expand our presence in Arizona, tap local talent to help clients in their transformation journeys, and contribute to the growth of the technology industry here. We also look forward to expanding our community engagement through our STEM initiatives, to help nurture the next generation of local technology leaders in our schools.

Shares of TCS rose 0.81% at Rs 3,213.85 on BSE.

TCS is an IT services, consulting and business solutions organization. Its net profit fell 2.57% to Rs 9,008 crore on 3.90% increase in net sales to Rs 45,411 crore in Q1 June 2021 over Q4 March 2021.

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