Google, a subsidiary of Alphabet, has activated a local cloud computing region in Israel that is expected to provide cloud computing services for the government and military of the country in a move anticipated to increase job creation and boost economic growth. Israel has signed an agreement with Google and Amazon Web Services to implement the project called Nimbus, which consists of four phases and is valued at over one billion dollars.
The Israeli Ministry of Finance, citing data from Google, stated that the economic impact of establishing the cloud computing region in Israel is expected to add $7.6 billion to Israel's economy by 2030, as well as create over 21,000 new jobs in the advanced technology sector and other sectors supporting cloud activity. The ministry also noted that Amazon Web Services is expected to activate another cloud computing region during the first half of 2030. As part of the agreement, Google and Amazon pledged to conduct purchases and initiate industrial cooperation in Israel that would amount to 20 percent of the contract's value.
