Google to spend $1 billion on new campus in New York
Google is investing more than $1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America’s financial capital to expand and create thousands of jobs.
The 1.7 million square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog post on Monday.
Google hopes to start moving into the building by 2022 and plans to double its New York headcount to 14,000 in the next 10 years.
The company’s plans to invest outside its home base mirror those of other U.S. tech giants such as Apple Inc (AAPL.O), which said last week it would spend $1 billion to build a new campus in Austin, Texas.
Last month, Amazon.com said it would open offices in New York and the Washington, D.C. area, creating more than 25,000 jobs.
Mountain View, California-based Google’s move to invest in prime real estate on the lower west side of Manhattan also underscores the growing importance of New York as a hub for innovation and an incubator for technology companies.
With a plethora of white-collar workers and good infrastructure, the city provides a better option to other places that would require more investment.
“Our investment in New York is a huge part of our commitment to grow and invest in U.S. facilities, offices and jobs. In fact, we’re growing faster outside the Bay Area than within it,” said Ruth Porat, chief financial officer of Alphabet and Google. -Reuters