Google has announced that it will invest 1 billion Australian Dollars ($740 million) in Australia over the next five years.

This is the Tech giant’s largest investment in the country to date. According to Google, the money will be used to build a research hub, increase its cloud computing capacity and fund partnerships with local organizations.

This investment namely – the Digital Future Initiative is expected to directly create 6,000 jobs and support 28,000 overall. "Australia can help lead the world's next wave of innovation, harnessing technology to improve lives, create jobs, and make progress," Google boss Sundar Pichai said at the initiative's launch in Sydney.