Menlo Park City Council unanimously approved a contract with Facebook on Tuesday, signing a deal that will financially and socially benefit the city.
Facebook executives agreed to pay the city $1.7 million over the next 10 years and build an iconic headquarters.
City officials have been negotiating the terms of this deal with Facebook since 2010. They expect other global corporations will see Facebook incorporating itself into the community and follow suit, setting up shop in spaces that could generate revenue for the city.
Facebook's new building is designed by world renowned architect Frank Gehry. Learn more about that in this article.
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