Google plans to invest a billion Australian dollars ($736 million) in Australia over the next five years. This will be the largest investment the company has made in the country.
On Monday, the CEO of Google's parent company Alphabet, Sundar Pichai, announced that the company plans to make substantial investments in its operations in Australia over the next five years. Some of the investment will be used to establish a new research hub in the county, while the rest will further develop Australia's cloud computing sector.
Google plans to partner with the Australian government on a number of scientific research projects, including projects that will look into enhancing clear energy technologies. A separate project will also be established, which is aimed at environmental protection. Google said it also plans to partner with local universities to develop new quantum computing technologies.
Through the projects, Google hopes to create new jobs and promote further innovation in the county. The company, which has been operating in Australia for two decades, employs roughly 2,000 people across the nation.
Australian Prime Minister Scott Morrison applauded the announcement Tuesday. Morrison described it as a "$1 billion vote of confidence" in the country's economic plan. Morrison's administration has previously stated that it wants to make Australia a leading digital economy by 2030 by significantly improving the country's artificial intelligence capabilities, among other high-tech digital technologies.
Morrison claimed that Google's initiative would result in the creation of over 6,000 jobs and a value addition to the economy of roughly $4.9 billion.
The planned investment comes months after the tech giant clashed with the Australian government, which led to threats of it pulling out of the country earlier this year. The cause of the argument was related to how companies such as Google and Facebook paid publishers for news content, an issue that was later resolved through concessions with regulators.
Google has been a vocal opponent of a proposed legislation that would change the way it pays content creators. It also used its site last year to warn Australians that the new rule would impede business to search and would result in "consequences" for YouTube users. Regulators accused the corporation of distributing "misinformation" at the time.
Tensions reached a pinnacle in January when Google threatened to yank its search engine from the nation if the bill was passed. An amended bill was eventually passed in February, with media outlets and lawmakers alike applauding Google for its cooperation.
