- Google has announced that it will invest $740 million in Australia in the next five years.
- This decision comes just a few months after the tech giant threatened to pull its services from the country due to stringent regulatory requirements.
- Google Australia’s managing director said that these investments will bring in considerable technological resources and investments.
- Australia’s Prime Minister said that this move is a A$ 1 billion ‘vote of confidence in the country’s digital economy.
Google has announced that it is ready to spend A$ 1 billion in Australia over the span of five years. The tech giant made the announcement just a few months after it threatened to withdraw its services from the country in response to stricter regulations.
How does Google plan on spending the money?
This will be the company’s largest investment in the country and most of the funds will be utilized to launch the company’s first research hub in the country. In addition, Google will also play a major role in the development of Australia’s cloud computing infrastructure.
Besides that, Google has also expressed interest in teaming up with a local government agency on scientific research. This will encompass projects such as the protection of the Great Barrier Reef and clean energy production.
There’s more! The tech firm will also tie-up with a local university to research and develop quantum computing.
Google’s Australian crusade
Google has been active across Australia for over a couple of decades and employs nearly 2,000 people. The recent announcement will help create new jobs and also fuel innovation.
Australian Prime Minister, Scott Morrison praised this decision by calling it a “$1 billion vote of confidence” in the country’s economic strategy. Previously, the government had laid down plans to transform Australia into a powerful digital economy by 2030. Morrison also said that this does not mean they are trying to pose as the next Silicon Valley.
Google’s program will create 6,000 new jobs and infuse around $6.7 billion into the Australian economy. Like every other country in the world, Australia is also gradually recovering from the COVID-19 pandemic and this move will provide a significant boost to the country’s digital strategy.