Google is investing more than 1 billion U.S. dollars on a new campus in New York, becoming the second major technology company after Amazon to pick America's financial capital to expand and create thousands of jobs.

Executive vice president Peter Muoio at Ten-X Commercial said the move will help the tech company attract more young talents.

"What firms need to do is go where people want to work, where they can get the talent, and New York is one of those cities that has sort of proved itself as being able to attract young, tech, millennial type talent. And I think fundamentally, especially unemployment is very low, and in the tech business it's very hard to get workers. New York is one of the places where you can find them."

The company said the 1.7 million square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street.

It hopes to start moving into the buildings beginning in 2020 and plans to double its New York headcount to 14-thousand in the next 10 years.

Google's plans to invest outside its home base mirror those of other U.S. tech giants such as Apple which said last week it would spend 1 billion dollars to build a new campus in Austin, Texas.