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December 18, 2018

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Now, Google bites into the Big Apple

Alphabet Inc’s Google is investing more than US$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 158,000-squarer-meter campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog post yesterday. Google hopes to start moving into the building by 2022.

The plan to invest outside its home base mirrors those of other US tech giants such as Apple Inc, which said last week it would spend US$1 billion to build a new campus in Austin, Texas.

Last month, Amazon.com Inc said it would open offices in New York and the Washington, D.C. area, creating more than 25,000 jobs.

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.

With a plethora of white-collar workers and good infrastructure, the city provides a better option to other places that would require more investment.

“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,” said Ruth Porat, chief financial officer of Alphabet and Google.

US firms are also under pressure from the US administration to create more jobs. Companies that have moved jobs overseas or closed factories have drawn sharp rebukes from President Donald Trump.




 

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