Foreign Property News | Posted by Zarni Kyaw
Alphabet Inc.’s 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-sq.-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog www.blog.google/inside-google/company-announcements/google-hudson-square-our-expanded-new-york-campus post on Monday. The new campus will be the main location for Google’s advertising sales division, the Global Business Organization.
Google hopes to start moving into two Hudson Street buildings by 2020, followed by a Washington Street unit in 2022 and will have the capacity to more than double its New York headcount, currently more than 7,000, 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., which said last week it would spend $1 billion to build a new 133-acre campus in Austin, Texas.
Last month, Amazon.com Inc. said it would open offices in New York and the Washington, D.C. area, creating more than 25,000 jobs.
U.S. corporations are also under pressure from the Trump administration to create more jobs domestically. Companies that have moved jobs overseas or closed factories have drawn sharp rebukes from President Donald Trump.
Ref: Property Report
