Google is doubling down on its strategy of boosting its footprint in Recent York City whilst tech rivals paused their expansion plans within the Big Apple because of employees’ preference for staying distant.
Sundar Pichai, the CEO of Google’s parent company Alphabet Inc., gave a vote of confidence to Recent York City’s economic prospects and its business real estate market.
“I’m personally long-term bullish on our growth in Recent York as an organization,” Pichai told Crain’s Recent York Business.
“And we might try this provided that we’re optimistic to access to tech talent and having the ability to scale up.”
Pichai has put his money where his mouth is. Last 12 months, Google announced it was buying the St. John’s Terminal constructing at West Houston Street near the Hudson River for a whopping $2.1 billion.
Pichai told Crain’s that Google plans to open offices at the situation by the center of next 12 months.
Pichai said Google plans to expand its Recent York City footprint in the approaching years.Levine-Roberts/Sipa USA
Google can be developing two other sites within the Hudson Square section of Manhattan. Altogether, the three buildings will comprise a campus totaling 1.7 million square feet.
Earlier this 12 months, Google unveiled a recent campus on Pier 57 that may include office space in three buildings.
As of last September, Google employed 12,000 people in town. The corporate said it goals to extend that number by 2,000 employees in the approaching years.
Pichai told Crain’s that town’s tech environment, which incorporates greater than 1,000 fintech startups, was a giant lure for Google.
A minimum of 20 of those firms have attained “unicorn status” — meaning their private valuation is price at the least $1 billion.
Earlier this 12 months, Google unveiled its recent campus at Pier 57 in Manhattan.Courtesy of Google
“Once I checked out specific sectors, like fintech, I used to be surprised at the dimensions and variety of startups in Recent York,” Pichai said.
The CEO cited town’s diversity as one other foremost draw. Pichai’s interview with Crain’s coincided with an announcement that Google would launch a round of grants totaling $4 million toward computer science education and teacher training in town.
While Google plans to expand its Recent York footprint, other tech giants are more hesitant.
Meta Platforms Inc., the parent company of Facebook and Instagram, halted its planned expansions earlier this 12 months amid uncertainty and slowing growth within the tech sector.
Amazon also placed on hold its plans to grow its presence in Recent York, in line with Crain’s.