Microsoft to expand their headquarters

Microsoft will spend $1 billion over the next three years to expand its headquarters outside of Seattle:

The development will increase the campus of the world's largest software maker by a third and provide the capacity for an additional 12,000 workers, Microsoft said a news conference with Washington state Gov. Christine Gregoire and local politicians.

Microsoft had received approval from the city of Redmond in May for a 20-year expansion plan, but the company said it accelerated those plans due to the need to house more employees as it rolls out crucial new products over the next few years.

More details over at Reuters.