LinkedIn proposes expansion in hometown
MOUNTAIN VIEW, Calif. (AP) — Professional networking site LinkedIn is proposing to add office space in its hometown in Silicon Valley, a newspaper reported.
The company and a developer have submitted paperwork to city officials in Mountain View for multiple office buildings that could total 2.6 million square feet and employ up to 13,000 new workers, The Oakland Tribune reported on Wednesday (http://bit.ly/1sr1CQw ).
"This would be a major increase in LinkedIn's presence in Mountain View," said Terry Blount, the city's planning manager.
Blount estimated the company currently occupies about 767,000 square feet in Mountain View.
The proposal comes as LinkedIn has inked other expansion deals. The company signed a lease last month for a 26-story, 450,000-square-foot office tower in San Francisco. The building in the city's South of Market neighborhood is expected to be completed by 2016.
As of February, LinkedIn also occupies office space in Sunnyvale, another Silicon Valley city, said Doug Madey, a LinkedIn spokesman.
"Due to LinkedIn's success and explosive growth, but constrained by the amount of office space available to us locally, we have had to expand outside of Mountain View," James Morgensen, head of global work space for LinkedIn, wrote in a letter to Mountain View officials. "It has always been our desire to retain our headquarters in the North Bayshore area and to remain a high value Mountain View-based company."
Tim Bajarin, principal analyst with Campbell-based Creative Strategies, which tracks the technology sector, said LinkedIn's planned Mountain View expansion makes sense since technology workers still overwhelmingly live in Silicon Valley.
"The concentration of tech talent is still in the South Bay, in the heart of Silicon Valley," Bajarin said. "Any company that wants to attract that tech talent has to be centrally located."
LinkedIn's plans are contained in letters the networking firm and a developer submitted to Mountain View. Most of the office space would be developed on two adjacent parcels of land. The rest would be on a third parcel a short distance away.
Information from: The Oakland Tribune, http://www.oaklandtribune.com