Google sets up shop in Silicon Roundabout

Google has announced that it will be setting up shop in London’s Tech City, while Twitter snubs the Silicon Roundabout for Dublin’s cheaper corporation tax.

It is good news for the government backed initiative to create a haven for internet companies in the mould of Silicon Valley in East London’s hipster-ridden Old Street.

Of course there may not be too many Google staff looking to get in with the moustachioed faux-spectacle brigade – according to reports the venture will not entail the firm’s employees moving into the premises. 

Apparently the venture will be more like TechEye’s friends at Tech Hub, and will not involve engineers moving in to the Bonhill Road building. 

However it is the first move of its kind by Google, which will be sending in advisers to help push innovative projects starting up in the area.  The seven building will be open in 2012 according to Reuters.

The plan has received the backing of David Cameron, who outlined his plans for the Tech City in November last year, and the intiative will be buoyed by Google’s presence.

However not all companies have shown as much enthusiasm for Tech City plans.

Facebook has already signalled that it would forego a move into the Silicon Roundabout, instead looking to move to more plush West London surroundings.

And now another internet giant has snubbed Tech City.  Twitter has decided to move into new offices in Dublin with a view to taking advantage of Ireland’s low corporation tax. 

While companies are forced to shell out 26 percent corporation tax in the UK, debt-ridden Ireland has a substantially lower rate at just 12.5 percent to drum big business, according to CityAM.