Google, the third most valuable company in the U.S., is heading to Iceland. The company’s CEO met with President of Iceland Ólafur Ragnar Grímsson a short time ago to sign an agreement for the relocation of the company’s headquarters to Northeast Iceland.
“Iceland is midway between Europe and North America and is always on GMT (Greenwich Mean Time). Of course, the cheap renewable energy and cool climate, which helps to keep our servers at the desired temperature, are also major drawcards. What is perhaps most important, though, is that the Icelandic laws on information sharing via the internet are among the strictest in the world. This means that institutions like the NSA [National Security Agency] will find it virtually impossible to monitor data, as they have been found to be doing in the U.S,” a company statement read.
The government has been placing renewed emphasis on attracting foreign investment to Iceland over the last couple of years. The agreement with Google is considered proof that Iceland has the business environment and laws to attract even the biggest of companies.
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UPDATE: More about this story here.