The East Coast answers to Silicon Valley

New York has bolstered its credentials as the East Coast’s answer to Silicon Valley after Google announced it would build a new $1 billion office campus in lower Manhattan just weeks after Amazon unveiled a similar plan in Queens. The new Google offices, which will occupy three separate buildings in the Hudson Square neighbourhood, would be a significant expansion of the technology group’s already considerable presence in the city, which includes the $2.4 billion purchase in March of Chelsea Market, a former biscuit factory-turned shopping mall and office complex. The New York moves by Google and Amazon, as well as last week’s Apple announcement that it was building a $1 billion campus in Austin, Texas, are a sign of how the tech industry’s breakneck growth is forcing companies to tap new pools of staff outside Silicon Valley… Staff will move into two of the new buildings by 2020 and the third by 2022… Although New York has long been a hub for finance and creative industries, Michael Bloomberg sought while he was mayor to turn it into the US’s second city of tech after the 2008 financial crisis… Together, Google’s new offices in Chelsea and Hudson Square will allow it to double its staff in the city from 7,000 at present.

Aliya Ram and Richard Waters