Google Builds $1B Campus in New York City
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Tech giant Google is pouring out $1 billion to build a new campus in New York, this places Google the second major tech conglomerate after Amazon to take The Big Apple as a new home to expand and create more job opportunities.
The planned Google “Hudson Square” is a whooping 1.7 million square foot leased properties at Hudson and Washington Streets. This new campus shall be the main office for Global Business Organisation – Google’s advertising sales division.
The Target Date
Google plans to get the new Hudson campus up and running by 2020, then to Washington Street buildings by 2022. Earlier this year, Google announced to purchase the Manhattan Chelsea Market for $2.4 billion. With the leased space on Pier 57, projecting towards Hudson, this expansion will strengthen the company’s presence along the Hudson River. A boom in their current NYC labor force currently at 7,000 -by more than 100% is expected over the next 10 years.
This move of expanding outside of main headquarters is no longer new. Other tech giants such as Apple Inc is also planning to build a $1 billion new campus in Austin, Texas. Amazon on the other hand, is also building a New York location seeking to provide 25,000 new jobs.
New York is seen as a hub of commerce, innovation and technology -a great breeding ground for tech companies. No wonder Silicon Valley-based companies such as Google is ready to go from coast to coast, to break ground a prime location spot. With so much white-collar talents and great infrastructure in place, the city provides a better option for any industry especially in Information Technology, ie: internet services, digital marketing, data recovery services in New York City and cryptocurrency.
Google’s current NYC site is housing 7,000 employees for different products such as YouTube, Search, Ads, Maps and Cloud. They also keep and maintain multiple campuses, data centers and vendor locations around the globe. Google’s CFO Ruth Porat says that their company is growing faster outside the Bay Area than within it. Moving their core advertising business into the heart of New York City is a really good move, financial analysts say. Given that Google already has the resources and the talent pool to make this plan happen.
Corporations around US are also under pressure from the White House to create more in-house jobs, as opposed to outsourcing them. Companies that opt to outsource their jobs or build factories on other countries are ostracised by the President.
Google’s first facility at Eighth Avenue was one of New York’s largest commercial buildings. I was bought for $1.77 billion in 2010.