6 things to know about Google’s $200 million Moffett Airfield lease deal

6 things to know about Google’s $200 million Moffett Airfield lease deal

Google has this week signed a mutually beneficial rental agreement with NASA that sees it take control of a massive airfield and buildings in Silicon Valley. The deal lasts 60 years with Google subsidiary Planetary Ventures LLC agreeing to pay $1.16 billion for use of the land and facilities. For NASA , this is a huge cost saver. By renting the 1,000 acres that is Moffett Federal Airfield (MFA) to Google it will save an estimated $6.3 million every year on maintenance and operation costs. On top of that it benefits from the $1.16 billion of extra income, which works out to just under $20 million a year for the term of the lease.