SAN FRANCISCO (CBS SF) – The popular professional networking site LinkedIn is expanding its office space in downtown San Francisco, Mayor Ed Lee announced this week.

LinkedIn signed a lease for roughly 57,000 square feet of office space at the One Montgomery Tower building, Lee said.

In a statement released Wednesday, mayor lauded the Mountain View-based company’s decision.

“LinkedIn’s major expansion in our city and continued growth of technology companies, startups and new jobs is another sign that San Francisco is now the innovation capital of the world,” Lee said.

The company’s vice president of talent Steve Cadigan said in a statement, “This move allows us to be close to one of the area’s great sources of talent, as well as better serve our customers in San Francisco.”

The development comes less than a week after the announcement that another tech company,, had signed a lease to expand its office space in the city.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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