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Google acquires NASA Airfield for 60 years in $1.16b

Google acquires NASA Airfield for 60 years in $1.16b

NEW YORK: Google surprises customers as well as investors. It isn’t a new device, gadget or another social networking set up. Google has recently signed an agreement with NASA according to which NASA will make sure that Google acquires and takes control of the Moffett Federal Airfield, which is located in California.

After spending years of using this airfield to launch pads for private jets of Google founders, the company now plans to take over the entire area. Google aims to take full responsibility of the operations at the airfield, while it is still under NASA’s name.

This lease is expected to last for at least 60 years. In actual terms, the company will be run by Google subsidiary company known as Planetary Ventures LLC. This shell organization is expected to contribute over $1.16 billion, over the 60 year lease and while also playing a vital role in decreasing the agency’s maintenance and operation costs by $6.3 million on a yearly basis. An attractive plan for those involved.

Looking into the Moffett Airfield, it just isn’t a hub for Google but has also in the past being used by NASA, the National Guard and the 7th Psychological Operations Group. In terms of infrastructure, the base has three hangers for storing Zeppelin airships. Planetary Ventures is expected to invest over $200 million into the property. The historic integrity of Hangar 1 along with Shenandoah Plaza Historic District is to remain intact. Whereas Hangar 2 and 3 will be setup and open to the public to create awareness and teach them about the site and local technological advancements in Silicon Valley.

Other operation will also take place in coordination with NASA, Federal Environmental Protection Agency and California Regional Water Quality Control Board.

According to a statement released by the NASA officials, Google will make full use of the airfield, not just allowing company jets to be parked there. The company has full plans to use the premises for research, development, assembly and testing purpose, mainly in the space exploration, aviation, rover/robotics and upcoming technology sphere.