Google investing $1 billion on new campus in New York

Vastavam web: Google is investing more than $1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America’s financial capital to expand and create thousands of jobs. The 1.7 million square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog post on Monday. The new campus will be the main location for Google’s advertising sales division, the Global Business Organization.

The company’s plans to invest outside its home base mirror those of other U.S. tech giants such as Apple Inc (AAPL.O), which said last week it would spend $1 billion to build a new 133-acre campus in Austin, Texas. Mountain View, California-based Google’s move to invest in prime real estate on the lower west side of Manhattan also underscores the growing importance of New York as a hub for innovation and an incubator for technology companies. “We’re growing faster outside the Bay Area than within it,” said Ruth Porat, chief financial officer of Alphabet and Google.

It also makes sense for Google as New York has been the centre for their core advertising business, Cordwell added. U.S. corporations are also under pressure from the Trump administration to create more jobs domestically. Companies that have moved jobs overseas or closed factories have drawn sharp rebukes from President Donald Trump. Google’s first New York office at 111 Eighth Avenue is one of the city’s largest buildings that it bought in 2010 for $1.77 billion.