Google signs 60-year, $1 billion NASA lease - Google has signed a long-term

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Google has signed a long-term lease for part of a historic Navy air base, where it plans to renovate three massive hangars and use them for projects involving aviation, space exploration and robotics.

In This Pic : Google signs 60-year, $1 billion NASA lease

Pic Courtesy : BCCL - Non Copyright

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The giant Internet company will pay $1.16 billion in rent over 60 years for the property, which also includes a working air field, golf course and other buildings. The 1,000-acre site is part of the former Moffett Field Naval Air Station on the San Francisco Peninsula.

In This Pic : Google signs 60-year, $1 billion NASA lease

Pic Courtesy : BCCL - Non Copyright

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Google plans to invest more than $200 million to refurbish the hangars and add other improvements, including a museum or educational facility that will showcase the history of Moffett and Silicon Valley, according to a NASA statement.

In This Pic : Google signs 60-year, $1 billion NASA lease

Pic Courtesy : BCCL - Non Copyright

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The agency said a Google subsidiary called Planetary Ventures LLC will use the hangars for "research, development, assembly and testing in the areas of space exploration, aviation, rover/robotics and other emerging technologies."

Pic Courtesy : BCCL - Non Copyright

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Google founders Larry Page and Sergey Brin have a well-known interest in aviation and space. The company has recently acquired several smaller firms that are working on satellite technology and robotics.

Pic Courtesy : BCCL - Non Copyright