Google Investing $1 Billion in New York City Campus
Google (GOOG) announced this morning in a blog post it’s going to invest $1 billion in expanding its presence in New York City: Google Hudson Square, an over 1.7 million-square-foot campus over three addresses in lower Manhattan.
Hudson Square will be the primary location for Google’s New York-based Global Business Organization. Back in March, Google paid $2.4 billion for Manhattan’s Chelsea Market, which is next door to the company’s 111 Eighth Ave. offices, an entire city block the search giant bought for $1.9 billion in 2010.
The Alphabet company currently has more than 7,000 employees working in New York City. Google reports it will have the capacity to more than double the number of employees in New York to 14,000 over the next decade.
“Our investment in New York is a huge part of our commitment to grow and invest in U.S. facilities, offices and jobs. In fact, we’re growing faster outside the Bay Area than within it,” Ruth Porat, the chief financial officer of Alphabet and Google, said in the statement.
Google is on track to be among the largest corporate office tenants in Manhattan, the Wall Street Journal reports.
The firm’s announcement comes right after Amazon’s (AMZN) decision to build one half of its second headquarters in Long Island City, Queens, creating 25,000 jobs.