Google To Pay $1.2B in Rent for Robotics, Space Exploration Facility
Google has signed a 60-year lease on a 1,000-acre site of the former Moffett Field Naval Air Station in San Francisco. The tech goliath will rehabilitate three hangars on the site and dedicate them to robotics, aviation and space exploration. The Wall Street Journal reported that the company will pay $1.16B in rent over six decades and spend $200M renovating the structures. The Google affiliate Planetary Ventures LLC will conduct research in the facilities located just a few miles from the company's Mountain View HQ. NASA currently operates the Ames Research Center on the same site. It will continue to do so while ceding operations of the runways and hangars to Google, which should save the agency $6.3 annually.