Google invests $1Billion to Set Up New Campus in New York

Technology

Sachin ReddyWritten by:

New York – Google begins its great expansion in New York City by investing more than $ 1 billion to build a new campus along the Hudson River that will double the number of employees it has in the city.

The Internet search giant will build a campus that exceeds 1.7 million square feet in the West Village neighborhood of the city, along the Hudson River, Ruth Porat, vice president and chief financial officer , wrote in a blog post Monday.

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Google opened its first office in New York almost 20 years ago and employs 7,000 people in the city . That presence has grown steadily. The company said this year it would buy the Manhattan Chelsea market building for $ 2.4 billion and plan to rent more space at Pier 57, both just over a mile north of the new campus along the Hudson River.

Google announced the plan a month after Amazon said it would locate its second headquarters in the Long Island City neighborhood of New York, generating more than 25,000 jobs in the region.

Amazon, Google and other technology giants like Facebook expand beyond Silicon Valley, hungry for trained engineers and other employees to support the expansion.

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The northwest has been a good place, with a strong base of people with higher education and a concentration of younger and more skilled employees from Boston to Manhattan. However, it’s not just the northwest.

Last week, Apple announced plans to build a $ 1 billion campus in Austin, Texas, which will generate 5,000 jobs.

The need for programmers increases salaries, which catapults average home prices in many parts of the San Francisco Bay area to over one million dollars.Therefore, many high-tech workers choose to live elsewhere, which in turn results in technology employers such as Apple, Amazon and Google looking for new places for the employees they need to achieve their future ambitions.

Google has more than 7,000 employees in New York and Facebook more than 2,000. According to official statistics, employment for the technology sector increased 65% to reach an estimated 134,700 between 2010 and 2017.

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