The decision was made in 1909 to form a clean, new suburb near Jaffa. On the sand dunes north of the ancient city, a ceremony was held on April 11, 1909, attended by a few hundred Jewish settlers, marking the founding of this new suburb, named Tel Aviv (Hill of Spring). A lotterly was held to recieve plots of land.By 1914, this new area encompassed 1,500 settlers. It had already become the cultural and political hub of Jewish settlement in Palestine. The city continued to grow and throughout the mandate it was the center of Jewish life in Palestine. After the State of Israel came into existence, the government was moved to Jerusalem. Tel Aviv remained the financial, cultural, and economic capital of the country. Today the city is known as the captial of the start-up nation with literally thousands of start-up located in Tel Aviv. It is also the home of the offices of many large tech companies such as Google, Amazon and Facebook.