Published: Tue, December 18, 2018
Money | By Bruce West

Google to become one of NYC's largest commercial tenants

Google to become one of NYC's largest commercial tenants

As it stands, Google employs over 7,000 individuals in New York City - the new campus is expected to more than double that amount.

The 1.7 million square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog post on Monday.

The new leased campus, which is over 1.7 million square-foot, will be the primary location for Google's global business organization, the company said in a blog post.

Amazon pitted dozens of cities against one another to get as many tax breaks as possible for its new facilities-ultimately claiming at least $1.5 billion (and possibly as much as $3 billion) in breaks for its NY office and $573 million in Virginia.

The announcement follows the company's March purchase of Manhattan's Chelsea Market - north of the new site - for $2.4 billion.

Google's plan to expand is being announced a month after Amazon said it would put one of its second headquarter locations in New York's Long Island City neighborhood. (Pictured above: Artist's rendering of 315 Hudson St., which is now undergoing redevelopment by its owner, real-estate firm Jack Resnick & Sons.) That will be followed by the nearby St. John's Terminal building, at 550 Washington St., in 2022 once the building is complete.

Even as it looks elsewhere, Google is still buying offices and drawing up plans to construct new campuses near its headquarters, as it tries to build upon its success in internet search, email, web browsers, digital mapping, online video and smartphone software to make money in other markets such as health care and internet-connected homes.

Google hopes to start moving into the building by 2022.

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". Our investment in NY is a huge part of our commitment to grow and invest in United States facilities, offices and jobs.

Porat telegraphed Google's plans to double down in NY a month ago during a technology conference.

Google has had an office in NY since 2000.

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