Google is spending more than $1 billion to expand operations in New York City. The new Google NYC headquarters will be dubbed "Google Hudson Square", aptly named due to the location of the buildings in the lower Manhattan district by the same name.
After establishing its first NYC offices in 2000, Google now has more than 7,000 employees in the Big Apple.
Alphabet earlier this year said it was buying the Manhattan Chelsea Market for $2.4bn, and planned to lease space at Pier 57 on the Hudson river. It also follows Amazon's plan to build its new HQ2 campus in Long Island City in the Queens borough. 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. According to official statistics, tech sector employment in the NY grew by 65 percent to reach an estimated 134,700 from 2010 to 2017.
The company plans to move into two of its new locations in NY, at 315 and 345 Hudson Street, by 2020, and another office at 550 Washington Street in 2022.
The New York Times reports that not all New Yorkers are happy about the company's expansion, however, with some Chelsea residents complaining that the Google's presence nearby has been a gentrifying force while some restaurant owners claim that the company's free-food-at-work policy has affected their business in the area.
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The 1.7 million square-foot campus will be called Google Hudson Square, according to a company blog post on Monday.
The moves from Google and Apple came one month after Amazon announced the results of its much-anticipated search for a place to build its second headquarters. The company now employs some 7 000 people in NY.
Ruth Porat, Google's chief financial officer, commented on the company's plans in a statement saying: "New York City continues to be a great source of diverse, world-class talent. 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.
NY is the largest market for technology talent, behind San Francisco, according to a report from brokerage CBRE Group Inc. that looked at the U.S. and Canada.