Facebook allowed to triple size of its HQ, pays $10 million for the privilege
Swollen with cash following its IPO, Facebook is looking to expand its headquarters in Menlo Park. Its plan to triple its workforce there from 2,200 to 6,600 people was approved by local officials last night, removing the previous cap that allowed a maximum of 3,600 messy, resource-consuming humans. In lieu of the added burden on the city, Facebook will have to contribute $850,000 per year for ten years, plus a one-time payment of $1,000,000. The start of a surge towards greater products and profits, or the beginning of a complacent corporate decline? We'll let the stock market decide.
