Facebook move could bring €274m in construction work

FACEBOOK Inc’s plan to relocate its main US base to Menlo Park, California, may result in $366 million (€274m) in new temporary construction spending in the surrounding area.

The construction budget is €190m, and the project may generate €90m in additional activity, economic research firm Brion & Associates said in a study of the impact over three to four years. It may also mean 2,441 temporary construction jobs.

Social network Facebook whose European headquarters is located in Dublin, is expanding operations and adding staff while preparing for an initial public offering (IPO). The company may also attract other startups and venture-capital (VC) firms to the area, said Joanne Brion, founder of Brion & Associates.