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Google to spend $1-billion to establish new campus in NY

18 December, 2018, 11:58 | Author: Shawna Walton
  • Google To Invest $1 Billion To Set Up Campus In New York

For more on Google's $1 billion expansion in New York City, follow on over to The Washington Post.

Earlier this year Google announced a $2.4 billion deal to buy the Chelsea Market shopping and office complex, where it has several floors of offices, and plans to lease an additional 320,000 square feet of space at Pier 57.

Back in November, we reported on the possibility of Google's expansion to their NY campus. The over 1.7 million square-foot campus is a result of lease agreements at 315 and 345 Hudson Street and a signed letter of intent at 550 Washington Street. Google hopes to start moving into the Hudson properties in 2020, with the more industrial Washington St. building ready in 2022. But it's the search giant's intention to double the size of its NYC workforce within 10 years, and for that the company requires even more space.

Porat notes that Google has given more than $150 million in grants to NY non-profits since 2011.

"We believe that as our company grows, we have a responsibility to support the communities we call home", said Porat.

The last major investment in the city happened back in February when Google acquired the entire Chelsea Market building for $2.4 billion.

Tech companies see NY as a way to gain a new perspective, one that is different from that of Silicon Valley, which can be seen as an "out-of-touch echo chamber", Bartels said.

Google has not been quite as aggressive as Amazon which has maintained a rapid growth rate across the country, William Floyd, Google's head of external affairs in NY commented on Google's slower expansion saying: "We've been growing steadily for the past 18 years without heralding trumpets, or asking for support from the government". Google's existing workforce strength in NY is somewhere around 7,000, but the company aims to double the number of Google employees in Big Apple over the course of the next 10 years.

She said the company's "investment in NY is a huge part of our commitment to grow and invest in United States facilities, offices and jobs".

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