Alphabet Inc's Google is investing over $1 billion to establish a new campus in NY, becoming the second major technology company after Amazon to pick America's financial capital to expand and create thousands of jobs. The new campus will be the main location for Google's advertising sales division, the Global Business Organization.
The city became home to Google's first office outside California almost 20 years ago.
In yet more proof that tech jobs will come to New York City without massive special subsidies, Google on Monday announced plans to double its presence here, to 14,000 jobs. Amazon plans to fill its New York City headquarters in Queens with 25,000 employees. Several New York City protests have already happened related to the move. The St. John's Terminal building on Washington Street will act as the central hub of 1.7 million square foot campus with plans for the company to also occupy two nearby buildings on Hudson street. But it's the search giant's intention to double the size of its NYC workforce within 10 years, and for that the company requires even more space. The online retailer initially intends to develop about 4 million square feet of commercial space in NY to accommodate 25,000 new workers. The company has obtained leases for 315 and 345 Hudson Street. Google has today revealed that the company will invest $1 billion to build a new campus in NY. The company employs about 7,000 people in NY.
Tech companies are "coming to the realisation that the Bay Area, which has traditionally been the major centre of tech activity in the USA, is getting expensive and crowded", said Andrew Bartels, principal analyst at Forrester Research.
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The move is the latest high-profile expansion from a US tech giant, following big investments from Apple and Amazon to create new office spaces in New York, Washington, D.C., and Texas.
Google hopes to move into the new campus by 2020.
"With these most recent investments in Google Chelsea and Google Hudson Square, we will have the capacity to more than double the number of Googlers in NY over the next 10 years", Alphabet CFO Ruth Porat wrote in a blog post.
Saying Google has opened a string of new offices and data centers in 2018 - from Los Angeles, Boulder and Detroit to spots in Tennessee and Alabama - Porat added, "In fact, we're growing faster outside the Bay Area than within it".