Published: Mon, December 17, 2018
Markets | By Otis Pena

Google Is Spending $1 Billion On a Massive New York City Expansion

Google Is Spending $1 Billion On a Massive New York City Expansion

"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".

Google's NY office is already its largest outside the San Francisco Bay Area, but on Monday the company announced plans to double the size of its NY workforce to more than 14,000.

Alphabet Inc's Google is investing more than US$1 billion on 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 announcement comes after rival Amazon said last month that it was splitting its new headquarters between the Long Island City district in NY and Crystal City, a Virginia community across the Potomac River from the United States capital Washington. The company already has more than 7,000 employees in the city.

Google is keen to point out that it isn't just jobs it brings to NY, but lots of investment, too.

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NY is the largest market for technology talent, behind San Francisco, according to a report from brokerage CBRE Group Inc. that looked at the US and Canada.

The city became home to Google's first office outside California almost 20 years ago.

On Thursday, Apple announced that it'll build a new $1 billion campus in Austin, Texas, as part of an expansion across the US. A more official office, in Times Square, followed soon after. It's now home to more than 7,000 employees, speaking 50 languages, working on a broad range of teams including Search, Ads, Maps, YouTube, Cloud, Technical Infrastructure, Sales, Partnerships and Research. And its real estate purchases rank among the largest ever in Manhattan.

"New York City continues to be a great source of diverse, world-class talent-that's what brought Google to the city in 2000 and that's what keeps us here", Porat wrote. Earlier this year, it paid $2.4 billion for the nearby Chelsea Market. It also has leased space on Pier 57 jutting into the Hudson, which will create a four-block campus. It also plans to fund construction of a landing dock for water transit and provide community space for culture and education programs at the project.

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