Google is investing more than $1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America’s financial capital to expand and create thousands of jobs.

Axar.az reports citing Reuters.

The 1.7 million square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog post on Monday.

Google hopes to start moving into the building by 2022 and plans to double its New York headcount to 14,000 in the next 10 years.

The company’s plans to invest outside its home base mirror those of other U.S. tech giants such as Apple Inc (AAPL.O), which said last week it would spend $1 billion to build a new campus in Austin, Texas.

Last month, Amazon.com Inc (AMZN.O) said it would open offices in New York and the Washington, D.C. area, creating more than 25,000 jobs.

Mountain View, California-based Google’s move to invest in prime real estate on the lower west side of Manhattan also underscores the growing importance of New York as a hub for innovation and an incubator for technology companies.

“Our investment in New York is a huge part of our commitment to grow and invest in U.S. facilities, offices and jobs. In fact, we’re growing faster outside the Bay Area than within it,” said Ruth Porat, chief financial officer of Alphabet and Google.

Google’s first New York office at 111 Eighth Avenue is one of the city’s largest buildings that it bought in 2010 for $1.77 billion.

Earlier this year, the company announced a $2.4 billion purchase of the Manhattan Chelsea Market. It also has leased space on Pier 57 jutting into the Hudson, which will create a four-block campus.

The company’s shares were down 1.2 percent at $1,038.43.