Google To Invest $1 Billion in New Campus in New York City (cnbc.com) 35
Google will invest $1 billion in a new campus in New York City, the company said Monday. From a report: The 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, Google said in a blog post on Monday. The move will expand Google's presence near the Hudson River in New York City. Earlier this year, the search giant announced it had purchased shopping and office complex Chelsea Market for $2.4 billion. Google said the Hudson Square campus will be the main location for its New York-based global business organization. It said the investments in Chelsea and Hudson Square will create capacity to more than double headcount in New York over the next decade. Google currently houses more than 7,000 employees in New York City in a range of teams including Search, Ads, Maps, YouTube and Cloud. "Our investment in New York is a huge part of our commitment to grow and invest in U.S. facilities, offices and jobs," Alphabet CFO Ruth Porat said in the blog post. Unlike Amazon, Google did not pursue tax breaks or other incentives from New York.
Don't be Evil (Score:2, Insightful)
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Nice way to cast a broad net that says nothing and gets to slime people on Medicaid and public aid.
It's my wonder why they would take on such huge and hideous costs. That real estate isn't cheap, and neither are the salaries that have to be paid. Is it because they should actually be on Madison Avenue with all the rest of the advertising companies?
They didn't pick a spot with a low burn rate, at all. My guess is that the eventual strategy is to start spinning off Alphabet companies and endeavors into tracki
Never understood the appeal of NY (Score:5, Insightful)
I get if you are financial services company or offer services specific to other companies in that sector. NYC is a center of mass for that; and its near other cities like Hartford, Boston, DC, etc that are also heavy in that.
I don't get why if you are tech company like Google you'd have any interest in maintaining anything more than some sales offices etc there.
It super expensive so you will have pay high salaries, much higher than you would elsewhere. There are plenty of other big cities that are less expensive where you could still certainly find top talent; and if you are Google you can pay key people to move to one of them if need be.
NYC is for the most part a dirty crowded shit hole. Its fun as a tourist destination if you are just there to see a show, visit the museums and seem some famous architectural achievements. I have a lot of experience traveling there for business and my take away everytime is that: Gee everything takes longer here, costs twice as much, and I have to spend the night in an EXPENSIVE hotel room only to still be kept up all night by the endless traffic, both inside the building and on the streets.
Really its my least favorite place to be sent. I would NEVER for any salary consider living there.
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Also, there are a lot of people who grew up in a big city and couldn’t see themselves living anywhe
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There is a big difference between Omaha and Minneapolis, St Louis, Nashville, Charlotte, Indianapolis, Louisville, Dallas or even Chicago though. Certainly none of those are without their own problems and higher costs but nothing like NYC.
I am no fan of City life; but any of those places are way more approachable and livable than NYC and for the most part have every bit as much to offer.
Lots of people like living in NYC (Score:5, Insightful)
I don't get why if you are tech company like Google you'd have any interest in maintaining anything more than some sales offices etc there.
Because there are a lot of talented people in NYC and it's pretty easy to recruit people to live there. Not everyone's cup of tea of course but one only has to look at the number of buildings in Manhattan to see that a lot of people like living there. NYC is somewhat underappreciated as a tech hub. It has a lot of excellent universities nearby, excellent infrastructure, world class amenities, and lots of talented people. NYC rightly is regarded as a financial center but finance has a LOT of tech and so it's not hard for a company like google to poach talent.
It super expensive so you will have pay high salaries, much higher than you would elsewhere.
Umm, have you looked at the price of living in the Bay Area recently? I think this isn't a worry of Google's. Plus if you look at their income statement I don't think they have any problems paying top dollar for good talent.
NYC is for the most part a dirty crowded shit hole.
Yes that it true to an extent that but that's not all it is. It has a lot of amazing things going on too. It's not my brand of vodka either but I get why people like it. I wouldn't enjoy living there either but then a lot of people who do live in NYC would hate living where I do. You be you.
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You be you (Score:3)
Dallas, Austin, San Antonio....? Hello, low tax Texas?
I have even less interest in living in Dallas than I do in NYC and I have little interest in living in NYC to begin with. I certainly don't move to a place because of the taxes or lack thereof. It might sway me all other things being equal but comparing Dallas to NYC is to compare two cities that could not be more different. Taxes are WAY down the list of concerns if I've considering one or the other. Anyone who wants to live in NYC (or SF) obviously isn't overly concerned about taxes to begin with so I
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Tech companies are willing to spend big money to get what they want. It's worth the taxes of NY or California to get access to all that concentrated talent. It wouldn't be worth just giving it to you, nor would it be worth moving to a place they don't want to go to just because taxes are low. Fwiw, Apple are opening a billion dollar office in Austin.
It may be cheaper to move to Dallas, but it'd also be cheaper to move to Mongolia. Cheap places are usually cheap for a reason.
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if it's such a shithole, then... (Score:2)
People like different things. I like walking, Broadway shows, museums, and not having to own a car. I like living in a place filled with decent human beings rather than some red state shithole where I'd be surrounded by Trump voters.
It's a big world out there, you should get out of your box sometime.
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Actually, no. Trump got almost no votes in NYC, and for good reason. Everyone in NYC has seen this sleazy narcissistic clown in action for decades. His presidency was a running PR stunt (he did every 4 years), but somehow the red-state goobers missed the joke.
Wow! Walker did a GREAT thing... (Score:1)
I live 2 miles from Foxconn. Wisconsin tax payers bought the promise of 13k jobs from a company known to replace workers with robots for $4B.
We've been had!
Why the comparison to Amazon, msmash? (Score:2)
Or put another way (Score:1)
Google to buy 5 apartments in New York City.
Taxes had to have come up (Score:2)
Unlike Amazon, Google did not pursue tax breaks or other incentives from New York.
They may not have been blatant about it like Amazon was but you can bet that taxes were a part of the discussion just like it would be for any big company making a big investment. Might have been simply that they didn't need to go begging to get a deal they were happy with. Google avoids paying taxes just like all the other big companies do whenever they can.
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Amazon was looking to move in to somewhere they weren’t. That gives them a lot more leverage over a company that’s already there. If they really didn’t like the taxes they already pay, they would have moved out. They’re obviously okay with whatever the cost is, or perhaps they even have some older d
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