Google is Investing $1 Billion Into a New Campus in New York City

In a blog post last week, Google’s Chief Financial Officer Ruth Porat announced that Google will be investing $1 billion into a new campus in New York.

he wrote, “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.

When we came to New York City almost two decades ago, it was our first office outside of California. It’s now home to more than 7,000 employees, speaking 50 languages, working on a broad range of teams including Search, Ads, Maps, YouTube, Cloud, Technical Infrastructure, Sales, Partnerships and Research.

New York City continues to be a great source of diverse, world-class talent—that’s what brought Google to the city in 2000 and that’s what keeps us here. Earlier this year, we announced the $2.4 billion purchase of the Manhattan Chelsea Market and shared plans to lease additional space at Pier 57. 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.

The company’s new 1.7 million square foot “Google Hudson Square” campus will include two buildings located at 315 and 345 Hudson Street and an office space situated at nearby 550 Washington Street in Manhattan. The company will have capacity to more than double its headcount in New York over the next 10 years.

Porat wrote, “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 U.S. 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 centers in locations like Detroit, Boulder, Los Angeles, Tennessee and Alabama. And as we continue to grow across the country, we look forward to calling New York City home for many years to come.”

Disclaimer: We have no position in Alphabet Inc Class A (NASDAQ: GOOGL) and have not been compensated for this article.