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Tech giant to invest further $1 billion for NYC campus

Alphabet Inc. has announced it will invest more than $1 billion to build a new campus in New York.

The parent company of Google plans to make the Hudson Square site its primary global business hub; with new office space in Lower Manhattan, and new property at 550 Washington Street.

The 1.7 million square-foot campus is set to double its staff numbers within a decade.

Earlier this year, the tech giant spent $2.4 billion buying New York City’s historic Chelsea Market, with plans to add a community space, winter garden and a public water taxi landing. It closely resides to their 111 Eighth Avenue headquarters, which they purchased in 2010.

“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,” Says Ruth Porat, SVP and CFO of Google and Alphabet, on a blog post.

"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."

Fellow tech titan Amazon Inc. is also set to invest $5 billion in real estate across two new headquarters for their HQ2 project. It hopes its Long Island City site will create a further 25,000 new jobs in New York and North Virginia.