Facebucks: Economic impact study released | December 9, 2011 | Palo Alto Weekly | Palo Alto Online |

Palo Alto Weekly

News - December 9, 2011

Facebucks: Economic impact study released

Facebook employees will get credit to spend at local businesses

by Sandy Brundage

With all the fanfare over Facebook relocating to Menlo Park, the question of why that was such a boon to the city sometimes led to hazy answers: "This is fantastic!" "Why?" "Because it's Facebook, and fantastic!" But now there are some concrete answers in the form of an economic impact study commissioned by the social networking giant.

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Almanac Staff Writer Sandy Brundage can be emailed at sbrundage@almanacnews.com.

Comments

Posted by kicked out, a resident of College Terrace
on Dec 7, 2011 at 3:55 pm

How many jobs (not counting Facebook employees) is Palo Alto losing by kicking Facebook out of town? I know this is going to hurt the merchants around California Ave and El Camino, but how much?


Posted by Chigi, a resident of Menlo Park
on Dec 7, 2011 at 4:37 pm

What I wonder is, assuming a critical mass of employees leave the campus during the day, when they drive up Willow Road and get to Middlefield, will they turn right to go to Menlo Park or left to go to Palo Alto? I'm guessing that they will turn left. And how much more congested can Willow Road get?


Posted by stella, a resident of Charleston Meadows
on Dec 7, 2011 at 10:35 pm

Facebook is currently under investigation for breach ofprivacy....Facebook sucks


Posted by Terrence, a resident of Charleston Meadows
on Dec 7, 2011 at 10:42 pm

Investigation info link fyi: Web Link


Posted by jacko, a resident of Meadow Park
on Dec 10, 2011 at 7:59 am

Pity its business plan is self defeating. As soon as the increase privacy to acceptable levels then the celebrity wannabee aspect is gone, and 99 percent of their users - young kids and show offs - will no longer use it and go back to simply communicating through private "groups" software. Throw in a few major law suits, fairly incompetent management, and a IPO that is being fast forwarded because the writing is on the wall, and you will find that Facebook will be a big fat mess and flame out within 5 years. You read it here! I am happy for the injection into the local economy but I am not happy for the canonization of a few young kids who won the jackpot and dont know what to do with it. Google they are not.


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