Google to spend US$1 billion on new campus in New York

Google to Spend $1 Billion to Establish New Campus in New York City

Google to spend $1 billion to establish new campus in New York

Google today is announcing plans to invest over $1 billion in capital improvements to create a new 1.7-million-square-foot campus in Lower Manhattan, dubbed "Google Hudson Square". They state, "our investment in New York is a huge part of our commitment to grow and invest in USA facilities, offices and jobs... and as we continue to grow across the country, we look forward to calling New York City home for many years to come". Earlier in the year Alphabet said it was buying the Manhattan Chelsea Market for $2.4 billion, and planned to lease space at Pier 57.

Last week, Apple announced plans to invest $1 billion building a new Austin campus that will be home to 5,000 employees initially.

There will be three buildings in all that make up the campus: two pre-existing buildings on Hudson Street and a yet-to-be-built building on nearby Washington Street. Projects have included outfitting the New York City Public Library System with free Wi-Fi hotspots for public school students and families without home internet access.

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Google became the latest U.S. tech giant to announce a major expansion plan, unveiling a $1bn investment to create a new campus that could double its New York City workforce to 14 000.

Porat notes that Google has given more than $150 million in grants to NY non-profits since 2011. Here, a pedestrian passes by 345 Hudson Street, one of the buildings Google will be using.

"When we came to New York City nearly two decades ago, it was our first office outside of California", said Google's Senior Vice President and CFO Ruth Porat in a blog post. "As an American company, we cherish the values and freedoms that have allowed us to grow and serve so many users", Pichai said in opening remarks.

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The new Google NYC campus will be called "Google Hudson Square". Amazon's move to both New York City and Virginia, in particular, is causing some controversy due to the heavy tax breaks the company is receiving. Our investment in NY is a huge part of our commitment to grow and invest in United States facilities, offices and jobs. In 2010, Google bought 111 Eighth Ave., its NY headquarters, for $1.8 billion.

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". It will begin moving into the Hudson Street locations in 2020 and Washington Street by 2022.

Apple is investing $1 billion to expand its footprint in Austin
The company recently opened its newest office in Nashville, Tennessee and Apple's Miami office is projected to double in size. The iPhone-maker said it expected the latest move would eventually make it the state capital's biggest private employer.

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