Amazon has selected New York City and Arlington for it's next headquarters, set to become two of the biggest economic development projects in the United States. Instead of choosing one site, Amazon will spread over $5 billion in construction and investments across the two locations. The tech giant will house at least 25,000 employees in each city, and could receive more than $2 billion in tax incentives. The new announcement ends a 14-month competition among cities across the country.
Gov. Andrew Cuomo of New York said in a statement that “with Amazon committing to expand its headquarters in Long Island City, New York can proudly say that we have attracted one of the largest, most competitive economic development investments in U.S. history.” Amazon may receive up to $1.2 billion in incentives from New York state’s Excelsior program, while in Virginia, the company could receive up to $550 million in cash incentives.
In January, Amazon narrowed the list to 20 locations, with places in nine of the 10 largest regions in the country. The tech company, based in Seattle, selected the finalists from more than 238 applications from cities located in Mexico, Canada and the United States, each hoping to raise their global profile and jump start their individual economies with the 50,000 new jobs the company said it would create. Amazon is now set to become one of the largest private tech employers on the East Coast, and will start hiring in New York and Virginia in 2019.
News via New York Times