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

18 December, 2018, 11:59 | Author: Lawrence Cooper
  • Google to Spend $1 Billion to Establish New Campus in New York City

Google Hudson Square will be the company's primary location for its NY operations.

Google's first NY office at 111 Eighth Avenue is one of the city's largest buildings that it bought in 2010 for $1.77 billion. This week, Google announced a $1 billion investment to build a new New York City campus called Google Hudson Square.

Google plans to invest $1 billion in a new 1.7 million-square-foot Hudson Square campus.

The news follows Seattle-based Amazon's announcement a month ago that it would set up new headquarters in New York's Long Island City neighbourhood and in Arlington, Virginia, creating upwards of 25,000 jobs in each location. It has also expressed interest and signed a letter of intent for 550 Washington Street.

"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.

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Google expects to start moving into two buildings in Manhattan's West Village neighborhood - at 315 and 345 Hudson Streets - by 2020. Earlier this year, we announced the $2.4 billion purchase of the Manhattan Chelsea Market and shared plans to lease additional space at Pier 57. The bulk of the company's New York workers is now located at 111 Eighth Avenue, a massive block-long building that was previously owned by the New York Port Authority. "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.

As part of the New York City expansion, Google and Alphabet Chief Financial Officer Ruth Porat said in a blog post out this morning that the company "will have the capacity to more than double its staff" in the city over the next 10 years.

The Amazon deal was brokered by the state in cooperation with New York City's Economic Development Corporation. "Our investment in NY is a huge part of our commitment to grow and invest in USA facilities, offices and jobs", she wrote.

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