multivita-man
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The online retail giant chose Long Island City — along with Arlington, Va. — for the HQ2 and said it plans to deliver the Big Apple 25,000 permanent jobs with an average $150,000 salary, along with an East River waterfront office complex totalling up to 8 million square feet.
All of that is fine, but there's more than just new jobs to consider.
The state enticed Amazon with $1.525 billion in tax credits and construction grants, while the city is giving $1.28 billion in tax breaks, officials said.
The state’s Excelsior Jobs Program will comprise most of its gift to Amazon.
The company will receive “performance-based direct incentives” of $1.2 billion from the program if it creates all of the 25,000 jobs it promised by 2028, according to an agreement signed by the city, state and Amazon.
Cuomo: $3B giveaway to Amazon ‘costs us nothing’
Gov. Cuomo and Mayor de Blasio on Tuesday rolled out the green carpet for Amazon — while claiming that $2.5 billion in taxpayer subsidies to lure the e-commerce juggernaut here won’t actually cost …nypost.com
Amazon just cut 18,000 jobs in the last month or so, and just today announced another 9,000 cuts. Granted, that's their global workforce, which is massive. But it goes to show how companies can lose when betting on the future.
Can the city take the $1.28 billion in tax breaks and hire new teachers instead?
It could do a lot with $1.28 bln, and the $3 bln in combined resources allocated to Amazon.