Google signs 60-year lease on NASA airfield for research and development

National Aeronautics and Space Administration (NASA) has revealed that it is renting its historic Moffett Federal Airfield, located 4 miles from Google's Mountain View office, in California, to Google's Planetary Ventures subsidiary. The announcement was made by NASA Administrator Charles Bolden in a statement released on Monday. 

Google plans to use the leased 1,000-acre area for space exploration, aviation, robotics and other emerging technologies, the statement said. It has agreed to pay NASA US $1.16 billion for a 60-year-long lease and is expected to spend another US &200 million to renovate the space. This includes revamping the three hangars on the property and continuing maintenance of the two runways.

Moffett Federal Airfield was constructed in the 1930s as part of the surrounding Moffett Field naval base. The airfield is also home to the Ames Research Center, and was once a location for NASA's famed "Space Camp" for kids. The deal will allow NASA to save an estimated US $6.3 million on annual maintenance costs.