Google’s Invests $1B In Upcoming NY Campus

Google has revealed today that is now going to invest around $1 Billion in establishing a new campus in the New York City, as it is going to expand its presence in the city technology corridor along with the Hudson River.

The new leased campus, which is going to be of around 1.7 million square feet, will be the primary location for the Google global business organization, the company revealed in a blog post.

The news comes on the heels of the Amazon.com which is picking up the New York as its second headquarter. In the March, Google has also revealed a $2.4 billion purchase of the Manhattan Chelsea Market. In the blog post, Alphabet CFO Ruth Porat wrote that it is leasing a large office building in Manhattan's West Village neighborhood, the centerpiece of campus more than 1.7 million square-feet large. The new campus should be operational starting in 2020.

The expansion would also be going to make the company one of the city largest commercial tenants, according to the report.

The company as of now employs more than 7000 people in New York. Earlier in 2017, Google said that it was buying the Manhattan Chelsea Market for the $2.4 Billion and planned to lease the space at Pier 57.

“Today we're taking the next step in our commitment to our New York City presence by investing over $1 billion in capital improvements to establish a new campus, Google Hudson Square. 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… We hope to start moving into the two Hudson Street buildings by 2020, followed by 550 Washington Street in 2022 once the building is complete. Google Hudson Square will be the primary location for our New York-based Global Business Organization,” Porat wrote in the blog.

“With these most recent investments in Google Chelsea and Google Hudson Square, we will have the capacity to more than double the number of Googlers in New York over the next 10 years. Our investment in New York is a huge part of our commitment to grow and invest in US facilities, offices and jobs. In fact, we're growing faster outside the Bay Area than within it, and this year opened new offices and data centres in locations like Detroit, Boulder, Los Angeles, Tennessee and Alabama,” Porat concluded.

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