Google has announced that it will expand its New York City footprint with a $1 billion investment in the Hudson Square area. The new campus will open in 2020 and will be located at 315 and 345 Hudson Street with an additional portion planned to open in 2022 at 550 Washington Street.
Google is right on the heels of Amazon, who recently announced the opening of their two new campuses. However, some are stating that Google has gone about the process in a much “nicer” way.
No Incentives Needed
Google’s acquisition deals are often shrouded in secrecy. This one is no different. Exact details of the deal between the massive tech corporation and NYC are currently not disclosed. However, according to The Wall Street Journal, Google is not pursuing incentives from the city in exchange for its new home.
This differs drastically from the controversial process of Amazon’s new dual-HQ2s slated to open in Virginia and Queens. Cities were seemingly thrust into a competition to offer the best incentives to woo CEO Jeff Bezos into planting a new facility within their borders. Meanwhile, Google avoided a similar situation altogether.
Some are praising the company for taking a simpler approach after Amazon’s process led to controversial headlines and shady dealings.
Expansion Everywhere…Sort of
Google and Amazon aren’t the only tech giants outgrowing their old headquarters. Google’s announcement also closely follows Apple’s announcement of a $1 billion campus in Austin, Texas. This new facility will accommodate 5,000 employees at its open and eventually be expanded to house 15,000. The entire campus will run on 100 percent renewable energy.
The many expansions of tech giants points towards the influence of the current global technology boom. With billions on smartphones, searching the web, and ordering products every day, it’s no wonder that industry-leading companies must expand to keep up.
Some lament the fact that these companies are expanding into already saturated markets like NYC, Austin, and D.C. However, until the talent pool in smaller cities like Cleveland or St. Louis grows enough to accommodate the massive demand of top tech companies, expansion will likely stay in the areas where talent is readily available.
Though this is unfortunate for those who live outside of NYC, Silicon Valley, or D.C., companies like Amazon and Google are making it easier to move and join them at these new campuses. After all, top of the line, brand-new facilities are enough to draw in top talent from around the world.