Sections SEARCH Skip to content Skip to site index Economy Subscribe Log In Log In Today’s Paper Economy | Amazon’s New York Home Qualifies as ‘Distressed’ Under Federal Tax Law Supported by ByJim Tankersley Nov. 14, 2018 There are wine bars and a cycling studio along the riverfront in Long Island City, among gleaming high-rise apartment buildings with views of Midtown Manhattan. The soon-to-open library branch is a modern art cube of concrete, the median income is $138,000 a year, and America’s hottest online retailer is about to move in. In the eyes of the federal government, the census tract that will house Amazon’s new headquarters in New York is an “opportunity zone,” eligible for tax credits meant to spur investment in low-income communities. The retail giant said Tuesday that it had selected this upscale slice of Long Island City to house one of two new … [Read more...] about Amazon’s New York Home Qualifies as ‘Distressed’ Under Federal Tax Law
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Sections SEARCH Skip to content Skip to site index Technology Subscribe Log In Log In Today’s Paper Technology | Amazon HQ2: How New York and Virginia Won the Beauty Contest Supported by Eager candidates offered name changes, helipads and even cactuses to entice the company into setting up shop. ByAmie Tsang Nov. 14, 2018 After 14 months of pitches, meetings and offers of incentives and name changes, Amazon announced on Tuesday that its second headquarters would be on two sites: one in Long Island City, Queens, and another in Arlington, Va. The company is also developing a smaller operations and logistics facility in Nashville. Here are some details you might have missed in all the coverage: Amazon brought Cuomo and De Blasio together Company executives flew to New York just to establish that Gov. Andrew M. Cuomo and Mayor Bill de Blasio could put aside their longstanding differences. Although the two … [Read more...] about Amazon HQ2: How New York and Virginia Won the Beauty Contest
Sections SEARCH Skip to content Skip to site index Economy Subscribe Log In Log In Today’s Paper Economy | A $2 Billion Question: Did New York and Virginia Overpay for Amazon? Supported by ByBen Casselman Nov. 13, 2018 Amazon built a retail empire on low prices and free shipping. But for taxpayers, its new headquarters didn’t come cheap. New York and Virginia collectively offered more than $2 billion in tax credits, rebates and other incentives to attract the company. That figure doesn’t include what could amount to hundreds of millions of dollars in infrastructure spending, worker training and other government assistance. Economists have long criticized tax incentives as inefficient and unnecessary, arguing that they pit cities or states against each other and leave less money for education and public works that ultimately do more to lift local economies and improve livelihoods. Research has … [Read more...] about A $2 Billion Question: Did New York and Virginia Overpay for Amazon?
Sections SEARCH Skip to content Skip to site index Technology Log In Subscribe Log In Today’s Paper Technology | Amazon Announces New York and Virginia as HQ2 Picks Supported by ByKaren Weise Nov. 13, 2018 SEATTLE — Amazon laid out its plans for two of the biggest economic development projects in the country on Tuesday, announcing that it will put major corporate outposts in New York City and Arlington, Va. The two locations, in Long Island City in Queens and Crystal City in Arlington, just outside of Washington, will eventually house at least 25,000 employees, the company said in a statement. It also said the new sites would require $5 billion in construction and other investments. The company also said it will develop a smaller site in Nashville that will focus on operations and logistics. Amazon said that site will create 5,000 jobs. Amazon, which is based in Seattle, made those commitments as part of … [Read more...] about Amazon Announces New York and Virginia as HQ2 Picks
Sections SEARCH Skip to content Skip to site index Art & Design Subscribe Log In Log In Today’s Paper Art & Design | Amazon’s HQ2 Will Benefit From New York City. But What Does New York Get? Supported by ByMichael Kimmelman Nov. 12, 2018 The innovation myth used to involve the back of a suburban garage or an office park in Silicon Valley. The tech industry was incubated not on the mean streets of the big city, but in sleepy hamlets like Murray Hill, N.J., and Mountain View, Calif. So with reports of Amazon’s plan to split HQ2, its second headquarters, between Crystal City, a part of Arlington, Va., just outside Washington, and Long Island City, in Queens, what are we to make of tech’s steady migration to marquee cities? Amazon is hardly alone, after all. Google and Facebook already have headquarters here (established, not incidentally, without state subsidies). Google intends to … [Read more...] about Amazon’s HQ2 Will Benefit From New York City. But What Does New York Get?