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Google To Provide CornellNYC Tech With Free Office Space For More Than 5 Years: Commitment To Training And Developing Engineering Talent In New York Cited As Key Reasons By CEO Larry Page

Stocks in this article: GOOG

Google Inc. CEO Larry Page announced today that Google will allocate 22,000 square feet of its New York headquarters to CornellNYC Tech, while the university completes its campus on Roosevelt Island. He was joined by New York City Mayor Michael R. Bloomberg, Cornell President David Skorton and Technion’s Director Craig Gotsman at a press conference this morning at Google New York. The space will allow Cornell to build its presence in New York in close proximity to the tech companies and entrepreneurs with whom it will collaborate. This arrangement represents Google, Cornell, Technion and the City of New York’s commitment to educating and developing tech talent in New York City.

Google will initially provide Cornell with 22,000 square feet of office space on July 1, 2012, free of charge for 5 years and 6 months or until the completion of Cornell’s campus on Roosevelt Island—whichever occurs first. Additionally, Cornell will be able to expand to 58,000 square feet over five years as it builds its presence in New York City.

“I’m passionate about breaking ground in science and engineering because technology has driven many of the advances humankind has made,” said Google CEO Larry Page. “But we still don’t have enough people working in these areas. It’s why I am tremendously pleased that Google is giving Cornell the office space to get their new engineering university up and running in New York City.”

“We’re about to find out what happens when you marry one of the world’s most innovative companies with one of the most innovative economic development strategies any city has undertaken,” said Mayor Bloomberg. “When we first envisioned the Applied Sciences initiative, we hoped the winning school would establish strong relationships with the tech sector. But this kind of synergy is beyond anything we could have imagined. CornellNYC Tech is well on its way to being fully integrated into New York City’s vibrant tech industry, and Google’s support is another huge vote of confidence for that industry. Just a few years ago, our tech sector was barely on anyone’s radar screen – now, it’s creating jobs and becoming a major player in our diversified economy.”

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