Alphabet Invests $9.5 Billion in the United States in 2022

The Google unit of Alphabet Inc. (GOOGL, GOOG) is investing $9.5 billion in the United States in 2022 and creating 12,000 new full-time jobs. Investments and hiring take place in offices and data centers across the country.

Sundar Pichai, CEO of Alphabet and Google, said: “It may seem counterintuitive to increase our investments in physical offices, even as we embrace greater flexibility in the way we work. Yet, we believe it is more important than ever to invest in our campuses and that this will result in better products, a better quality of life for our employees and stronger communities. »

Key Takeaways

  • Google is investing $9.5 billion in the United States in 2022 and plans to add an additional 12,000 full-time jobs in the United States.
  • The investments are in nine offices and ten data centers across the United States, new and existing.
  • Investments also include a $1 billion affordable housing initiative in the Bay Area.
  • Google is touting various studies showing it to be a key catalyst for local economies, perhaps in an effort to blunt growing criticism from big tech companies.

Nationwide investments

Google says that over the past five years, the company has invested more than $37 billion in offices and data centers in 26 states and created more than 40,000 full-time jobs. In addition to this figure, Google reports spending more than $40 billion on research and development (R&D) in the United States in 2020 and 2021.

The specific projects included in the $9.5 billion figure are:

  • Opened a new office in Atlanta, Georgia.
  • Progress on a new office in Austin, TX.
  • Invest in existing data centers in Georgia, Texas, Tennessee, Virginia, Oklahoma, Iowa, Nebraska, Oregon and Nevada, while opening a new data center in Nevada.
  • Continued investment in offices in New York, Pittsburgh and Cambridge, Massachusetts.
  • Continued construction of a campus in Boulder, Colorado.
  • Invest in campuses in Seattle and Kirkland, Washington.
  • Opening of a new office in Portland, Oregon.
  • Supporting affordable housing initiatives in California’s Bay Area as part of a $1 billion commitment made in 2019 to create at least 20,000 new homes.

There’s clearly a political slant to Google’s press release, positioning the company as a good corporate citizen and vital driver of local economies, in response to growing criticism from big tech companies.

“Our contribution to communities”

Google’s press release states, “Our contribution to communities begins with the jobs we create, directly and indirectly. He cites a study that found that creating one job at a high-tech company created more than four additional jobs in the local economy.

Google also released its 2021 Economic Impact Report, in which it claims to have delivered $617 billion in economic activity to millions of businesses, nonprofits, creators, developers and publishers. in 2021. Additionally, Google says the Android app economy saved nearly 2 million jobs in 2021 and YouTube’s creative ecosystem supported 394,000 jobs in 2020.

Additionally, Google touts its $100 million Google Career Certificates fund, which it says is “a new financial model to help people access digital education and skills.” Finally, in the area of ​​green investing, Google says it is working to operate its offices and data centers on 24/7 carbon-free power by 2030 and that it aims to set new standards for green building design.

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