Sunday , April 18 2021

What New York City Promised Amazon for HQ2



long island city
Long Island City will house one of Amazon's next venues.
The City of New York

The battle for HQ2 is finally over.

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

The much-anticipated news comes after a year-long search that began with 238 proposals that were reduced to a short list of 20 sites earlier this year.

See More Information: Amazon officially announces its HQ2 will be split between New York and Virginia

Amazon had initially said it planned to invest more than $ 5 billion and accommodate up to 50,000 high-wage jobs with its new HQ2. As a result, cities and states have taken the chance to conquer the e-commerce giant by putting together appropriate site proposals and even offering tax incentives to smooth the business.

New York Governor Andrew Cuomo even said he would change his name to Amazon Cuomo to win the company.

On Tuesday, both Cuomo and New York City Mayor Bill de Blasio praised Amazon's decision to choose New York.

"New York City is about to receive tens of thousands of new, well-paying jobs, and Amazon is about to find the world's most talented workforce in one of the most diverse places on the planet.Welcome to Queens, # HQ2 "by Blasio wrote in Twitter.

"When I took office, I said that we would build a New New York State – which is fiscally responsible and promotes a business climate that is appealing to growing businesses and tomorrow's industries … New York can proudly say that we have attracted one of the largest and most competitive economic development investments in history "said Cuomo on Amazon's blog.

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

Here are the top topics:

Where will the new headquarters be?

  • The new headquarters will be located near the edge of Long Island City, between 46th Avenue and 44th Road.
  • The new offices will occupy four million square feet of space, with the opportunity to expand to eight million square feet in the future.
  • The offices will be housed in a mix of public and private buildings, including the Department of Education's office, which will be relocated from Vernon Boulevard.
  • Once the city agrees to Amazon's design proposals, construction will begin within 12 months.
  • Amazon has agreed to donate space on its campus to a technology startup incubator for use by artists and industrial companies. He also agreed to donate a site to a new public primary or middle school.
  • The company will also invest in infrastructure improvements and new green spaces.

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How many employees will Amazon hire?

  • Amazon will hire 25,000 people in the next 10 years. It said that these employees would have an average annual salary of $ 150,000. The hiring begins with 700 people, who will join the new offices in 2019.
  • If Amazon increases its headquarters in the future, around 40,000 people will be able to be hired in total.

How much will Amazon invest in the local community?

  • In total, Amazon will invest about $ 3.7 billion over the next 15 years.
  • This includes a $ 5 million investment in funding workforce development initiatives, including technology training programs and internships for local students.

What tax incentives will Amazon receive?

  • If Amazon keeps the end of the business by creating 25,000 jobs, it is eligible to receive direct incentives of $ 1.525 billion. These are discounts on taxes paid on salaries of employees and reimbursements for the construction of new offices.

Goodies

AP / Frank Franklin II

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