Google, yesterday announced over $1 billion to establish a new campus in New York. This is coming days after Apple Inc. announced a $1 billion major expansion to its U.S. operations, including a new a campus in Austin.
The 1.7 million square-foot campus, dubbed ‘Google Hudson Square’ will be the main location for Google’s advertising sales division, the company said in a blog post on Monday. It will also contain leased properties at Hudson Street and Washington Street.
At the moment, Google has over 7,000 staff situated in New York, and this strategy is aimed at doubling the number over the next 10 years. The company will become the second major technology company after Amazon opted for New York to expand and create thousands of jobs.
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There is a likelihood that Google will move into two Hudson Square buildings to be operational for staff by 2020, and Washington Street in 2022. This is in addition to Manhattan’s Chelsea Market building, which was purchased for $2.4 billion in March.
“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, and this year opened new offices and data centers in locations like Detroit, Boulder, Los Angeles, Tennessee and Alabama,” says Google CFO, Ruth Porat.
In November, Amazon Inc. said it would open offices in New York and Washington, D.C. area to create over 25,000 jobs. The deal is a “fairly sensible” step for Google, considering the availability of talent pool, says James Cordwell, Atlantic Equities analyst.