Breaking ground at UI: Five things to know about Yahoo
With Yahoo planning to break ground Wednesday on an expanded location in the University of Illinois Research Park, here are a few things to know about the Internet giant:
Yahoo has had a presence in the UI Research Park since 2007. Its 24,000-square-foot office at 2021 S. First St., C, has about 90 employees.
The new building, to be built at First Street and Hazelwood Drive, just south of the I Hotel and Conference Center, would have about 40,000 square feet — room for more than 250 employees.
In November, as an incentive for the project, the city of Champaign agreed to pay Yahoo $3 per square foot of new high-tech space. It also agreed to pay $1,000 per new employee making at least 2-1/2 times the minimum wage.
On Tuesday, Yahoo reported fourth-quarter and full-year income and revenue. Net income for the fourth quarter was $351.7 million, up from $273.7 million from the same quarter in 2012. Analysts were perturbed by revenue drops — and, specifically, continued drops in display and search revenue.
The Sunnyvale, Calif.-based company had 11,700 employees worldwide as of Dec. 31, 2012, according to its most recent annual report issued in March 2013.