New York City severed ties with Amazon on Valentine's Day. The relationship began on a rocky note when Amazon announced the end of its search for HQ2, a search that had involved New York and Washington, D.C., in a reciprocal arrangement. Noise came primarily from New York representatives, who raised concerns about the cost of living, affordable housing, and infrastructure issues. Thus began the strained relationship.
The state of New York initially offered the company $1.2 billion in discreet tax credits, while Virginia offered the company approximately $750 million in cash incentives for choosing the three Virginia boroughs spread between two cities, which the company calls National Landing.
Amazon's relationship with its hometown of Seattle, WA, is complicated at best. The company has poured nearly $4 billion into the city in real estate spending. Amazon currently employs 45,000 people at an average salary of $110,000 per year. Critics say these investments have driven up the cost of living in the city. While the tech giant has grown, it has also set aside $54 million in state taxes, a consequence of a high-tech business incentive program in Washington state.
Amazon chose to split its headquarters into two parts to maximize the company's access to the pool of technical talent . Seattle, HQ1, ranks second in the nation for its tech talent job market. Washington, D.C., ranks third, and New York City fifth for each city's access to top tech talent.
New York broke up with Amazon this Valentine's Day. The relationship got off to a rocky start when Amazon announced the end of its HQ2 search, where New York and Washington DC were picked in a two-way tie. Rumblings from New York representatives about concerns around the cost of living, affordable housing, and infrastructure issues started off the fraught relationship.
New York state initially offered the company 1.2 billion in discretionary tax credits, while Virginia has offered the company around 750 million in cash incentives for choosing the three Virginia neighborhoods spread between two cities, which the company refers to as National Landing. Grassroots organizing and push back from local government officials cut off the relationship.
Amazon's relationship with its hometown, Seattle, WA, has been complicated at best. The company has poured close to 4 billion in real estate spending into the city. Amazon is currently employing 45,000 people who have an average salary of $110,000 a year. Critics say these moves have driven up the cost of living in the city. While the tech giant has grown, it has also deferred 54 million in state taxes alone, due to a high-tech corporate incentive in Washington state.
Amazon decided to split its headquarters into two to maximize the company's access to the tech talent laboratory pool. Seattle, HQ1, is the 2nd in the country for its tech talent labor market. Washington DC comes in third and New York City comes in 5th for each cities' access to top tech talent.
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