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/ Wednesday, November 3, 2021
Phil Shawe of TransPerfect >Archive
TransPerfect to Open Training Center in San Juan
$30 million investment marks continued confidence in Puerto Rico
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Zoe Landi Fontana, The Weekly Journal
ransPerfect, reportedly the world’s largest provider of language and technology solutions for global business, announced that it has officially acquired property in Puerto Rico as the location for its Management Learning Center, committing to a $30 million investment. The new training center will be equipped with conference facilities and accommodations, and enhanced with state-of-the-art technology and connectivity. With its new facility, TransPerfect’s staff members will have the opportunity to participate in more frequent and effective group training in a retreat environment. The project’s timeline is projected to begin in the first quarter of 2022 and finish by the end of that year, with the first trainings to be held in 2023. Chief Revenue Officer at TransPerfect, Kevin Obarski, commented, “The strength of our culture is what defines TransPerfect. We’ve always invested heavily in face-to-face interactions between our employees, and those bonds are a big part of what has carried us to where we are
diverse range of professionals across multiple today. This new facility takes that commitment to areas, including language services production, the next level.” technology R&D, and sales and client services. TransPerfect has offices in over 100 cities and Other positions for which they are actively spans six continents, offering services in more recruiting include project managers, software than 170 languages to over 5,000 organizations developers and software engineers. globally. Year-to-date in 2021, the company has As reported by THE WEEKLY JOURNAL in grown 29 percent and surpassed $1 billion in annual billed revenue. In the third quarter of 2021, 2019, Shawe expressed his confidence in San Juan as a business hub with an TransPerfect also reported that extensive pool of local talent. In its sales had risen by 31 percent an interview with THE WEEKLY over the same period last year. JOURNAL, Shawe explained that “The $1 billion mark is a a main driver for Puerto Rico is milestone we’ve had our sights Buoyed that “there is a tremendous need on for a long time. While sales by its strong for Spanish translations and we performance is not our only revenue numbers, know many people are bilingual important metric, our philosophy TransPerfect is in Puerto Rico. That was key in is that beyond being a good currently hiring our decision-making process.” indicator of overall demand, locally in San Juan, in He noted that many of the revenue helps measure how addition to expecting company’s jobs are for educated much value we’re able to add to to hire hundreds and skilled workers, in the sense our clients’ businesses in totality,” more worldwide. that they require a certain level of stated Phil Shawe, the company’s knowledge of English and Spanish. president and CEO. An additional motivator for Buoyed by these strong TransPerfect was the availability numbers, the company is of tax benefits in Puerto Rico, on currently hiring locally in San which Shawe commented, “We will comply with the Juan, in addition to expecting to hire hundreds letter and spirit of the law and create jobs in Puerto more worldwide. Rico. It’s a win-win for all of us.” The recent transaction on the new training At the time, in 2019, TransPerfect had invested center, brokered by Paco Diaz of Luxury Collection an estimated $200,000 for their new office in Hato Real Estate in San Juan and financed through Rey’s business district. The space was suitable for Oriental Bank, highlights the company’s continued 50 employees and was partially chosen for how interest in Puerto Rico’s talent pool and economic well it stood up to hurricanes. benefits. They continue their pledge to hire a
In fact,
