More than a year after kicking off a public search, Amazon announced today that it has officially decided on two locations for its “second headquarters”” the Long Island City neighborhood in Queens, New York, and Arlington, Virginia, just outside of Washington, D.C. Amazon will split the projected 50,000 jobs it had planned to add to its second headquarters location between the two cities — so each area will get about 25,000 jobs. In a blog post, Amazon said that it will receive “performance-based direct incentives of $1.525 billion based on the company creating 25,000 jobs in Long Island City,” among other incentives. Part of this refundable tax credit will come through New York State’s Excelsior tax incentive program. Another portion of it will come in the form of $325 million from Empire State Development “based on the square footage of buildings occupied in the next 10 years.” Amazon said it will also apply for other tax … [Read more...] about Amazon officially selects New York City and a Washington, D.C. suburb for split ‘second headquarters’
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Why Amazon’s move to split HQ2 between New York City and Northern Virginia makes sense
Amazon will pick New York City and Northern Virginia as its second and third headquarters to conclude a long-running bake-off among cities. According to the Wall Street Journal, Amazon is going to go with Long Island City in Queens and Arlington County's Crystal City as new locations for its headquarters. Here's a look at some of the perks of going with two locations instead of two. Spread the tax break love. By splitting HQ2 into two cities, Amazon lowers its total operation costs. New York and Virginia will give Amazon tax breaks. And by having an open interview process Amazon did advance scouting for other locations, which will incidentally have a tax break template for the future. Each location plays into Amazon's growth areas. Long Island City has easy access to Manhattan and the ad tech companies as well as advertising and media firms that come with it. Advertising is a big growth area for Amazon's "other" revenue category. Northern Virginia gives Amazon Web Services more … [Read more...] about Why Amazon’s move to split HQ2 between New York City and Northern Virginia makes sense
Report: Amazon chooses New York City, Northern Virginia for new headquarters
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Nov. 13, 2018 / 6:41 AM GMT By Safia Samee Ali After more than a year-long, high-profile evaluation of more than 230 contenders, online retail giant Amazon has chosen two locations for its second and third North American headquarters — New York City and Northern Virginia — according to reports. Amazon is expected to make the announcement that it has selected Long Island City in Queens and Crystal City in Arlington County, Virginia, as early as Tuesday, according to the Wall Street Journal, which was first to report the news citing anonymous sources. NBC News reported last week that Amazon had decided to split its sought-after office location between two cities. Amazon's pledged 50,000 new jobs will be divided evenly between the two cities, the Journal reported. It's not clear how Amazon will split its estimate spending of $5 … [Read more...] about Report: Amazon chooses New York City, Northern Virginia for new headquarters
Report: Amazon chooses New York City neighborhood, DC suburb for HQ2
Further ReadingCities around US offer billions in tax breaks to be Amazon’s HQ2Amazon has reportedly selected two joint sites for its second headquarters, or HQ2: Long Island City—a neighborhood in Queens, New York City—and Crystal City, Virginia, adjacent to Washington DC. According to the Wall Street Journal, which broke the news on Monday evening, the selection caps a process that lasted over a year to lure the Seattle-based retail giant. In January 2018, 20 "finalist" cities were named, including Raleigh, Toronto, Chicago, and Atlanta, among others. The company said at the time that it expected to "invest over $5 billion in construction and grow this second headquarters to include as many as 50,000 high-paying jobs—it will be a full equal to our current campus in Seattle." In a way, the New York and Northern Virginia sites make sense, as the company had asked in its RFP specifically for "daily direct flights" to Seattle, New York, the San Francisco Bay Area, … [Read more...] about Report: Amazon chooses New York City neighborhood, DC suburb for HQ2
Amazon’s HQ2 Will Benefit From New York City. But What Does New York Get?
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?