The social networking giant Facebook and the software firm Microsoft are both on the look out for more office space to rent in New York City and specifically in Manhattan, according to reports.
Facebook, which floated on the stock market earlier this year, currently occupies somewhere in the region of 40,000 sq ft of office space in New York, while Microsoft occupies somewhere around 175,000 sq ft in the city, but both are on the hunt for more, Reuters reports.
Local authorities in New York, including the mayor’s office, have been working for years now to encourage technology, social networking and software businesses to establish themselves in offices around the city but particularly in Manhattan. These efforts are widely perceived to have been a success with the city now able to boast a growing reputation as an incubator of talent and enterprise within the sector.
A number of successful companies within the technology industry, including the likes of Facebook have taken to California in order to grow and gain international recognition in the past but New York officials are keen to see that sort of development given every chance to succeed on the east coast as well. Reuters describes both Facebook and Microsoft’s current position as being one likely to require significant office space on both coasts of the US in future.
Meanwhile in the UK and in London significant efforts are being made to establish the city as another leading location for investment and growth in the technology sector. One area of London that has achieved notable success in attracting major investment from global tech firms in recent years has been the so-called silicon-roundabout district just north of the City.