Blogs

Google to invest more than $1 billion in its new campus in New York

Google to invest more than $1 billion in its new campus in New York

In New York, Google is investing more than $1 billion on a very new campus. This campus will be the second major technology company after Amazon to pick America’s financial capital to expand and create thousands of jobs.

At Hudson Square, the 1.7 million square-foot campus, called Google Hudson Square, will include leased properties at Hudson Square and Washington Street, on Monday the company announced in a blog post. This new campus will be the main office or location for the Google’s advertising sales division, the Global Business Organization

By the year 2020, Google is hoping to start moving into two Hudson Street, which is followed by a Washington Street in 2022 and the capacity is more than double its New York headcount, which is currently more than 7,000, in the next 10n years.

The company’s plans to invest outside its home base mirror those of other U.S. tech giants such as Apple Inc (AAPL.O), which said last week it would spend $1 billion to build a new 133-acre campus in Austin, Texas.

To grow the importance of New York as a hub for innovation and an incubator for technology companies, Google’s move to invest in prime real estate on the lower west side of manhattan to underscore the mountain view of California.

The city of Washington provides a better option to other places that would require more investment with a plethora of white-collar workers, jobs and good infrastructure.

“We’re growing faster outside the Bay Area within it,” said Ruth Porat, chief financial officer of Alphabet and Google.