Saturday , February 27 2021

What New York City promised Amazon for HQ2



long island
Long Island City will be home to one of Amazon's next headquarters.
New York City

The battle of HQ2 is finally over.

On Tuesday, in a blog post, Amazon named the two winners of its HQ2 project: Long Island City in Queens, New York, and the newly formed National Landing area in Arlington, Virginia.

The much-awaited news comes after a year-long search, beginning with 238 proposals drawn to a short list of 20 places at the beginning of the year.

Read more: Amazon officially announces that HQ2 will be shared between New York and Virginia

Amazon had originally said it planned to invest over $ 5 billion and accommodate as many as 50,000 high paying jobs with its new HQ2. As a result, cities and states hoped to win over e-commerce giant, put together proposals for suitable places, and even offer incentives to seek out the deal.

New York government Andrew Cuomo also said he would rename Amazon Cuomo to bid the company.

On Tuesday, both Cuomo and New York celebrated Mayor Bill de Blasio Amazone's decision to choose New York.

"New York City is gaining tens of thousands of new, good paying jobs and Amazon is about to face the most talented workforce in the world at one of the most versatile places on the planet. Welcome to Queens, # HQ2" de Blasio wrote on Twitter.

"When I went to the office, I said we should build one new New York – one who is taxable and promotes a business climate that is attractive to growing companies and tomorrow's industries … New York can proudly say that we have attracted one of the largest and most competitive investments in economic development in US history, "Sa Cuomo in Amazon's blog post.

The exact terms of New York's agreement with Amazon had been presented in a series of documents, signed by New York City, two city organizations and a representative of Amazon. These documents were published online on Tuesday.

Here are the biggest takeaways:

Where will the new headquarters be?

  • The new headquarters is located close to the waters of Long Island City, between 46th Avenue and 44th Road.
  • The new offices will occupy four million square meters of space, with the opportunity to expand to eight million square meters in the future.
  • The offices will be housed in a mix of private and public buildings, including the Department of Education, which will be moved from Vernon Boulevard.
  • When the city has agreed on Amazon's design proposal, construction will begin within 12 months.
  • Amazon has agreed to donate space on its campus for a tech startup incubator and for the use of artists and industrial companies. It has also agreed to donate a website to a new primary or intermediate public school.
  • The company will also invest in infrastructure improvements and new green areas.

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How many employees will rent Amazon?

  • Amazon will employ 25,000 people within the next 10 years. It is said that these employees would have an average annual salary of $ 150,000. The employment will start with 700 people, who will join the new offices in 2019.
  • If Amazon grows to its headquarters in the future, approximately 40,000 employees can be hired in total.

How much does Amazon cost to invest in the local community?

  • In total, Amazon invests nearly $ 3.7 billion in the next 15 years.
  • This includes an investment of $ 5 million in financing labor development initiatives, including technology training and internships for local students.

What tax incentives will Amazon have?

  • If Amazon continues until the end of the purchase by creating 25,000 jobs, it is eligible to receive direct incentives of $ 1,525 billion. These are discounts on taxes paid on employee salaries and remuneration for building new offices.

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AP / Frank Franklin II

Read more about Amazon's HQ2:


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