Google Announces Plan to Invest in New $1 Billion NYC Campus

Google has recently given the word of its plans to invest $1 billion in a new campus in New York City.  The 1.7 million square foot “Google Hudson Square” campus will have two buildings—located at 315 Hudson St and 345 Hudson St—as well as an office at 550 Washington St, in Manhattan.

This move, of course, will further expand Google’s operations, now with a presence near the Hudson River.  You may recall the tech giant announced it had purchased a shopping and office complex Chelsea Market, earlier this year, for $2.4 billion.

Upon announcing the Hudson Square development, Google also made sure to comment this office will be the main location for its New York-based global business organization.  Furthermore, Google said the Chelsea and Hudson Square locations will, together, provide the capacity to more than double the payroll, in the Empire State, over the next ten years.  Currently, the search engine giant employs more than 7,000 people in New York City with teams working in Google Search, Google Ads, Google Maps, YouTube3, and Google’s Cloud Services.

In a blog post, Alphabet CFO Ruth Porat comments, “Our investment in New York is a huge part of our commitment to grow and invest in US facilities.”

Of course, this is only the preliminary announcement of Google’s plan.  Upon signing the lease for the Hudson Street spaces, Google said it will begin moving into these two buildings in 2020.  For the Washington Street space, though, Google only signed a letter of intent, with the goal to move into that building—once it is completed—in 2022.

While this expansion is really nothing new in today’s economy, it is a bit timely as it comes not long after Apple’s announcement of a new $1 billion campus in Austin, TX; as well as new operations in Culver City and San Diego, CA and Seattle, WA.  Also, Amazon announced a plan to open a new headquarters in the Queens NY neighborhood of Long Island City and Washington, DC, which should create more than 25,000 jobs between them.

 

Be the first to comment on "Google Announces Plan to Invest in New $1 Billion NYC Campus"

Leave a comment

Your email address will not be published.


*