Tuesday, May 25, 2010
Google’s U.S. economic impact
(Cross-posted from the Official Google Blog)
In 1978, people told Douglas Twiddy he was crazy when he started renting out vacation homes in the Outer Banks of North Carolina. More than 30 years later, his son Ross is using our AdWords advertising program to help attract prospective renters — and grow his small business, Twiddy. Thanks in part to AdWords, in just the past two years the company has added 100 new homes to its listings and hired 16 full-time employees and it brings on another 50 seasonal employees each year.
This week is National Small Business Week, and Ross will be with me on Capitol Hill in Washington today to share his story and help unveil something that means a tremendous amount to me: a new report detailing, for the first time ever, Google’s economic impact in all 50 states.
People think of Google first and foremost as a search engine, but it’s also an engine of economic growth. In our report, we’re announcing that in 2009 we generated a total of $54 billion of economic activity for American businesses, website publishers and non-profits. Over the years people have asked us whether we could quantify our economic impact on a state level, and we’re pleased to do that for the first time with this report, which you can download at google.com/economicimpact.
In a time of tighter budgets and a slow economic recovery, we’re glad to support so many small businesses and entrepreneurs across the country by helping them find new customers more efficiently and monetize their websites through targeted advertising.
Here’s a video from me and our Chief Economist, Hal Varian, with more background on where we get the numbers:
The report is filled with really wonderful stories about the direct economic impact that AdWords, AdSense, Google Grants and our search engine have across the country. These are the stories of entrepreneurs across the country growing their businesses with Google. And this morning Googlers are hosting events in 10 other cities across the country (Atlanta, Austin, Boston, Chicago, Detroit, New York, Oakland, Portland (OR), Raleigh and Seattle) to help share those stories. Ladies and gentlemen, start your economic engines!