Facebook Gets Permission to Expand Headquarters in Menlo Park
May 30, 2012 3:33 PM
comment(s) - last by
Menlo Park city council approved an environmental impact report and developmental agreement for a project that will bump the number of employees up to about 6,600
the green light to expand
its headquarters in Menlo Park, California to boost its head count over 6,000 employees.
Currently, the social network has 2,200 employees in Menlo Park. But yesterday, the Menlo Park city council approved an environmental impact report and developmental agreement for a project that will bump that number up to about 6,600.
All five city council members voted yes at the meeting last night.
"The bottom line is that we have a development agreement with Facebook that we're excited about," said Kirsten Keith, mayor of Menlo Park. "We're excited to have Facebook as our neighbors. I am pleased with what we have come up with."
Facebook will pay Menlo Park $850,000 per year for a 10-year period to cover the impact of the additional workers. It will also pay a one-time fee of over $1 million for capital improvements.
In addition, Facebook plans to establish a $500,000 community improvement fund, high school internship programs and job training seminars.
The social giant is also looking to build a new campus, which is a 22-acre site across the Bayfront Expressway. The site is to include could include five new buildings total, and it will be connected to the current Menlo Park campus via an underground crossing. Both campuses combined will likely have around 9,400 employees, and it should be complete in 2014.
All of the new changes to Menlo Park have concerned neighboring cities like Atherton, which said traffic at intersections could be an issue with all of the new employees. Both cities are currently in talks trying to come up with an agreement. Facebook offered suggestions such as employee carpool options.
Expanding its headquarters isn't the only big news Facebook has revealed recently. The social network launched the largest IPO in history this month, which valued the company at over
. Facebook also announced that it plans on creating
its own smartphone software
by next year and may
purchase Opera Software
for $1 billion.
The Los Angeles Times
This article is over a month old, voting and posting comments is disabled
6/1/2012 6:31:35 PM
California is not "extorting" money from Facebook. Menlo Park has a population of 32,026. Facebook is looking to bring in an additional 4400 people, which will require major enchantments to the current infrastructure. Facebook is paying the city to cover these enhancements. It is actually a very common thing when developing property that the developer also provide additional structure to the city, or give the city funds to cover the structure. For example, when a new housing tract is built the developer builds the roads in the tract, then turns the roads over to the city to maintain.
And FYI, all states require building permits, even Texas.
"We don't know how to make a $500 computer that's not a piece of junk." -- Apple CEO Steve Jobs
Report: Facebook May Purchase Opera for $1 Billion, Improve Mobile Experience
May 29, 2012, 10:07 AM
Report: Facebook to Launch Phone "By Next Year", Eyes HTC Purchase
May 28, 2012, 12:00 PM
Facebook Shares Will Open at $38 USD
May 17, 2012, 6:20 PM
Facebook IPO Exceeds $100 Billion Mark
May 15, 2012, 10:37 AM
FCC Orders Advertisers to Cut Out That Racket, Turn Down Commercials
August 29, 2014, 12:49 PM
Dropbox Bows to Competitive Pressure, Provides 1TB of Storage for $10/Month
August 27, 2014, 11:17 AM
Amazon Acquires Twitch for $970 Million
August 25, 2014, 4:37 PM
Facebook Adds Satire Tags to Its Auto-Generated "Related News" Posts
August 18, 2014, 10:43 AM
Comcast, TWC Pull Dinner Gift for FCC Commissioner... Sort Of
August 15, 2014, 1:10 PM
Comcast Accused of Wooing FCC Commissioner w/ $110K Dinner
August 13, 2014, 8:20 PM
Most Popular Articles
Microsoft's Surface 2 Tablet Family Gets a $100 Price Cut
August 25, 2014, 1:16 AM
Owner of "Decepticon" Maserati Ordered to Appear in Court This Thursday
August 25, 2014, 7:55 AM
LG Posts Teaser Video of Its “Round Face” G Watch R Smartwatch, Set for IFA Lauch
August 24, 2014, 2:49 PM
Windows 9: "Upgrade Now" Button Coming for Enterprise Updates, ARM Preview in H1 2015
August 26, 2014, 8:00 PM
Second ZMapp-Treated Patient Dies of Ebola, Supplies Run Out
August 25, 2014, 7:03 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information