- Amazon (AMZN +2.2%) confirms that it selected D.C. and NYC for its split HQ2.
- The company says it will receive $1.525B in performance-based direct incentives in Long Island City over the next 10 years. The total includes a refundable tax credit of up to $1.2B through the state’s Excelsior Program. The amount is based on a percentage of salaries Amazon expects to pay employees over the next decade or $48K per job for 25K jobs.
- A $325M cash grant from Empire State Development is based on the square footage of the buildings occupied in the next decade.
- Amazon’s “National Landing”/Crystal City location will get $575M in performance-based direct incentives on 25K jobs created with an average wage over $150K.
- The Commonwealth will invest $195M in infrastructure improvements in the neighborhood including metro stations and a pedestrian bridge to Reagan National airport.
- Previously: Amazon picks NYC, Northern Virginia for HQ2 (Nov. 12)
- Previously: AWS opens East Coast GovCloud (Nov. 13)
- Previously: Amazon to set operations hub in Nashville, with 5,000 jobs (Nov. 13)
- Now read: Market Volatility Bulletin: The Micro Went Macro
Original article