Rice Management Company and The Ion have announced that Microsoft will be one of the innovation hub’s new tenants, according to a Dec. 17 news release.

The tech giant will lease out space on the fifth floor of The Ion and will join previously named tenants Chevron Technology Ventures and Common Desk.

“Over the last several years, Microsoft has made it clear it is committed to Houston," said Mayor Sylvester Turner in the news release. "With the work Microsoft is already doing with the City and The Ion to support entrepreneurs, workforce development and energy transition, it is only fitting its new home should be in our city's hub for innovation."

Prior to inking a leasing agreement, Microsoft had partnered with The Ion and was a founding sponsor of its Smart and Resilient Cities Accelerator, according to the news release. In August, Microsoft announced it would invest in local workforce development in Houston.

Microsoft will host a monthly executive forum and virtual symposiums at the Ion, as well as provide support to future accelerators for advanced manufacturing, training, and resilient city innovation.

"The Ion is fast becoming a hub for Houston's startup community and driving forward innovation in energy transition technologies," said Ravi Krishnaswamy, Microsoft's corporate vice president for Azure Global Industry, in the news release. "My team and I are excited to get to work there, supporting Microsoft's vision of powering a sustainable future and accelerating energy transition with the expertise of partners, customers and industry."

The Ion is expected to complete construction in the first quarter of 2021.