Fast Company reports that Facebook is increasing its staff by 50 percent. The nearly 500-employee increase is substantial in a good economy, and in current recessionary times, it’s a flat out boon. But why, at a time when ad revenues are down, would an expansion like this make sense?
For one, costs of doing business can be lower. The talent that Facebook is hiring is in abundance on the market. New hirees will work for less. There’s a good lesson there; transfer it downtown. While construction costs are lower, properties are bringing less rent, and an empty space eliminates the major opportunity cost of construction, it may just be the time for a property owner to reinvest.
Of course Facebook is in at an impressively expansive point in consumer adaptation as well, and it wants to expand its services to advertisers to capture the market. There’s something, too, to be said for striking while the iron is hot. With trendwatchers capturing the steadily growing fashionability of downtown living, shopping, and working, what is your community doing to make the most of that most of your opportunities today?