Google to Expand Data Center in Finland Again

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By Trey Thoelcke Published
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As demand for mobile video increases, Google Inc. (NASDAQ: GOOG) has announced that it will spend 450 million euros ($608 million) to expand its Finnish data center in Hamina. The Mountain View, Calif., company hopes this will help it cope with increasing volume from wireless devices and boost advertising revenue.

The stable electricity grid in Scandinavia and its cool climate that helps save on equipment cooling costs has attracted other companies looking to increase data capacity as well. Microsoft Corp. (NASDAQ: MSFT) said in September that it would invest 250 million euros in a new data center in Finland. In June, Facebook Inc. (NASDAQ: FB) opened a data center Luleaa, Sweden, its first outside the United States.

In addition, the Finnish government is looking to capitalize on the data-center boom by cutting the energy tax on companies investing in data storage there. That discount would begin next year, but it needs approval from the European Commission.

Google spent 150 million euros to expand its Finnish data center last year. The site, about 150 kilometers east of Helsinki, was a former newsprint mill when Google bought it in 2009 for 40 million euros.

Google shares were down fractionally in early trading Monday, at $1.025 in a 52-week range of $ 636.00 to $1,041.52.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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