Google has announced plans to invest over $7 billion in offices and data centers in the United States this year. The amount will include $1 billion in its home state of California.
This is perhaps a bold move as remote work is being embraced by most companies due to the COVID-19 pandemic. Companies are also moving out of Silicon Valley considering operational, property costs, and high taxes.
Google CEO, Sundar Pichai says that the investments would create at least 10,000 new full-time Google jobs.
“Google wants to be a part of that recovery. That’s why we plan to invest over $7 billion in offices and data centers across the U.S. and create at least 10,000 new full-time Google jobs in the U.S. this year. This includes investing in communities that are new to Google and expanding in others across 19 states,” Pichai said in a blog post.
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Alphabet had put a stop to its real estate spending in 2020 due to the COVID-19 pandemic. The decision also coincided with Google’s first-ever year-on-year revenue decline in 2020’s second quarter.
Now, it’s looking to expand its cloud business, thus its heavy investment in data centers. In its last earnings report, Google revealed that it lost $5.61 billion on $13.06 billion revenue last year. Google Cloud CEO Thomas Kurian also told investors that he’s focused on growing the cloud business at the moment. Kurian believes that the profits will come later.
Google plans to return its workers to offices later this year. Although Pichai had previously said that Google wouldn’t adopt a permanent remote work plan, it still expects most of its employees to show up to assigned offices three days from September 2021.
Google is planning on opening new offices in Seattle, Houston, and Mississippi. It’s also in the process of planning several, ground-up developments in various cities.
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