Posted on 11/13/2018 10:45:44 AM PST by yesthatjallen
New York state is kicking in more than $1.5 billion in taxpayer-funded incentives for getting half of Amazon's second headquarters located in a section of Queens.
The Seattle-based company made its long-awaited announcement Tuesday, saying Long Island City and Alexandria, Virginia, will each get 25,000 jobs. The online retailer also said it will open an operations hub in Nashville, creating 5,000 jobs.
Amazon will also receive as-yet unspecified incentives from New York City.
New York state's incentives are nearly triple those of Virginia's, while Tennessee's are $102 million.
According to Amazon, the cost per job for New York taxpayers is $48,000, compared to $22,000 for Virginia and $13,000 for Tennessee.
In a statement released by Amazon, Cuomo called the agreement "one of the largest, most competitive economic development investments in U.S. history."
New York City Council Speaker Corey Johnson issued a statement saying: "Amazon is one of the richest companies in the world...I also don’t understand why a company as rich as Amazon would need nearly $2 billion in public money for its expansion plans at a time when New York desperately needs money for affordable housing, transportation, infrastructure and education."
Incentives offered to Amazon:
— Performance-based direct incentives of $1.525 billion, based on 25,000 full-time, high-paying jobs created. This includes a refundable tax credit of up to $1.2 billion calculated as a percentage of the salaries Amazon expects to pay employees over the next 10 years, which equates to $48,000 per job for 25,000 jobs with an average wage of over $150,000.
— Cash grant of $325 million based on the square footage of buildings occupied in the next 10 years.
— Amazon will also apply for as-of-right incentives including New York City's Industrial & Commercial Abatement Program and New York City's Relocation and Employment Assistance Program. There was no dollar figure immediately attached to this benefit.
City Benefits:
— More than 25,000 full-time jobs.
— $2.5 billion investment from Amazon.
Stop crony capitalism.
This is GREAT NEWS . . . for Virginia’s Dimocrats.
Thank God they didn’t come to Texas.
So what’s the bottom line? Did New York give away the store to get this HQ and jobs? Will it be worth it?
Know what? I love it when liberals are packed in to one already deep blue state. It’s a win any time liberals coagulate into one voting district.
My condolences to those upstate and on LI.
From last year....
See my reply #7.
Amazon:
NEW YORK FAKE MEDIA OFFICE
D.C. DEEP STATE OFFICE
That Bezos is getting as good as Elon Musk at getting politicians to give him taxpayer money to fund his various schemes.
“I’m from the government and I’m here to help”
Ditto that.
“Have you seen the bigger piggies
In their starched white shirts..”
“Only the little people pay taxes.”
Leona Helmsley
An average wage of over $150,000. I don’t think many or any of these are warehouse jobs, maybe more programming and high level IT for government contracts?
Crystal City has offices full of well paid professionals now. Including my son. His company will loose their lease and be forced to move elsewhere.
His building will have no net gains unless they tear it down.
$1 Billion Went to Buffalo. Cuomo Donors Benefited.
ALBANY — It was to be the salvation of Buffalo, a billion-dollar godsend from the administration of Gov. Andrew M. Cuomo that promised to revitalize the depleted city with bold investments there and across western New York.
But the so-called Buffalo Billion is in danger of becoming an albatross for many involved. Federal investigators are examining how money and contracts were distributed. Delays have bruised several projects, and one of the state’s key corporate partners — SolarCity, a power company backed by Elon Musk that intends to open a huge solar-panel factory on the Buffalo River — has watched its stock price plunge over the past year.
Another fake news headline. Mostly this is a contract that allows Amazon to keep more of the money it makes over the next ten years if they meet the conditions of the contract.
Well the NY taxpayers are the one who voted the corrupt jackasses that made these bad decisions into power so as far as I’m concerned they deserve to get plundered.
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