The former U.S. Ambassador to Spain, James Costos. | M.A. CAÑELLAS

Eric Schmidt, the former CEO and executive chairman of Google, has been in Majorca for the past few days and has been making contact with local business people regarding the establishment of a subsidiary company on the island.

This would be for a business which has already been founded in Barcelona, and in which the ex-US ambassador to Spain, James Costos, is a partner.

Costos was the United States Ambassador to Spain and Andorra from 2013 to 2017.

He was appointed by President Barack Obama and the two became very close friends.

The business focuses on artificial intelligence, which could be used for tourism applications. Costos has been accompanying Schmidt. The former ambassador is no stranger to Majorca and has in the past hosted Michelle Obama when she has visited the island.

Costos and Schmidt have been guests at the Ses Planes finca in Esporles, and on Tuesday they held a dinner at a restaurant in Llubi to which business people were invited and heard about the plans for the project in Majorca.

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Details are very sketchy, but it would seem that a likely location for this subsidiary would be Palma’s ParcBit technology park.

Shareholders from the island are being sought for a business venture which could have research possibilities distinct to those of the main company in Barcelona and also provide its own investment in local businesses.