Google have announced plans to open a new headquarters in London, which is set to create around 3,000 jobs by the year 2020.

The headquarters will be a re-development of the current space occupied by Google in Kings Cross, London. Currently, Google employs around 4,000 people across the UK; however with this latest investment, that figure could rise to 7,000.

Chief executive Sundar Pichai remained optimistic about the opportunities for business in the UK, despite the potential impact of Brexit. However, Mr Pichai did emphasise the importance of open borders and freedom of movement for the growth of the technology industry.

“The UK has been a tremendous market for us,” Mr Pichai told a correspondent at the BBC.

“We see big opportunities here. This is a big commitment from us – we have some of the best talent in the world in the UK and to be able to build great products from here sets us up well for the long term.”

Mr Pichai spoke of the prospects in investing further into the U.K, in spite of the ongoing Brexit-related setbacks for the economy:

“The innovation we see here, the talent we have available here and how on the cutting edge of technology we are able to be here makes it an incredible place for us to invest,” he said.

“We do value how open and connected it is and we can bring in talent from anywhere in the world and we value those attributes and we are optimistic that those will stay true over time.

“So we did [make the investment decision] taking into consideration [the referendum], but we are very optimistic.”

Mr Pichai also warned that the full effects of the referendum may not yet have been realised. However, he remained positive about the status of the capital as a source of world-class talent and innovation for the technology sector.

“When I look at London [I see] a place in which we are able to attract great talent, find great talent in the UK, thanks to a great educational system here, but it has also been a place where people are willing to come from anywhere in the world.”

Whilst the company neglected to give specifics over the size of the investment, speculation from experts puts the re-development in the region of £1 billion. It is set to encompass 650,000 sq-ft and has been designed by Thomas Heatherwick – the designer behind the Olympic cauldron.

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Nicole covers emerging global economic and political events for The UK Investor Magazine. Her focus is particularly upon company news and political developments in Europe and the US.