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Nov 13 - amazon gets at least $1.5 billion in corporate welfare just from new york


 
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 4 months ago '09        #1
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messy marv stan 5200 heat pts5200
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Nov 13 - amazon gets at least $1.5 billion in corporate welfare just from new york
 

 

[pic - click to view]

 http://www.fox5ny.com/new .. -amazon-hq-job


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."

NEW YORK CITY - Long Island City

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 a*sistance 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.

— Facilities totaling 4 million square feet, with the potential to double in size.

— Projected incremental tax revenue of more than $10 billion over 20 years
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26 comments for "Nov 13 - amazon gets at least $1.5 billion in corporate welfare just from new york"

 4 months ago '13        #2
North!!! 440 heat pts440
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Greatest place on Earth
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 4 months ago '10        #3
Alerts 225 heat pts225
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Sad
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 4 months ago '10        #4
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They move from one expensive market to NOVA and NYC. This is about being close to the government and the financial sector.
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 4 months ago '06        #5
illathruz 78 heat pts78
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I like how this post isn't talking about Virginia. So I'm guessing Virginia gave out corporate welfare too?



So Virginia is a Democrat liberal state?



So no Republican led states tried to get Amazon to create their base there?



So hickass Wyoming or redneck Mississippi with their vibrant economies should have gotten Amazon's business?



These trolls are getting dumber, what happened?
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 4 months ago '16        #6
OWPE 94 heat pts94
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Democrats are all talk. Look at that

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 4 months ago '06        #7
991 37 heat pts37
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Amazon has fallen off so hard man. Always getting prime packages late. Now the price increased even more. I'll get it free when my year runs out through my phone service. If it wasn't for that screw Amazon prime.

 4 months ago '09        #8
BrooklynStiles 136 heat pts136
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Same day delivery in NYC is gonna be lit.
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 4 months ago '07        #9
timdog 1107 heat pts1107
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Jeff The Finesse
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 4 months ago '04        #10
ruff 6 heat pts
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:bezosthanos:

 4 months ago '16        #11
North Face 40 heat pts40
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More jobs.

Get that money folks.

 4 months ago '18        #12
MsMarySon 
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 Alerts said
They move from one expensive market to NOVA and NYC. This is about being close to the government and the financial sector.
I predicted this when they announced it , the writing was on the wall

 4 months ago '04        #13
patt24 53 heat pts53
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LIC came a long way from back in the 90s



curious to see what happens around ravenswood and qb and all the lower income areas in LIC/Astoria
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 4 months ago '11        #14
Sin 1927 heat pts1927
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NYC has a $90 billion yearly budget this is light
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 4 months ago '10        #15
Alerts 225 heat pts225
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 MsMarySon said
I predicted this when they announced it , the writing was on the wall
Yea I knew they were moving to DC, they have too much money invested in government services.

I just don't like how people allow their local governments to give a company millions/billions.
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 4 months ago '05        #16
Woodwin 4 heat pts
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 Alerts said
Yea I knew they were moving to DC, they have too much money invested in government services.

I just don't like how people allow their local governments to give a company millions/billions.
They give them the money for what they offer in return, i agree they shouldn't give them as much but many businesses improve the area. Bring in more jobs, boost housing market which creates a lot of trickle effect for surrounding areas. While some might argue it pushes certain people out and raises prices in the area, overall the monetary gained from the influx in moving there will out weigh the 1.5bil they spend.

 4 months ago '06        #17
J_Teflon 1 heat pts
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New York needs to privatize everything.

Let the bridges get named by corporations and they maintain them with paying a huge yearly payment for having their name on it. Then get rid of the tolls

Verizon Bridge / AT&T bridge
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 4 months ago '18        #18
MsMarySon 
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Yea I knew they were moving to DC, they have too much money invested in government services.

I just don't like how people allow their local governments to give a company millions/billions.
Facts. I’m born and raised here but I’ve been telling my ppls to prepare for gentrification cuz alll the signs have been there in the last 2 yrs. DC is slowly becoming the best city on the planet and they’re starting to charge like it. I read a article in the post that said by next yr the average worker will need to make 80k to afford the smallest apt downtown. Average property has went up 20k since Amazon announced the winners yesterday. I feel two ways tho. I thinks it’s wrong morally but at the same time when I was coming up it was a str8 war zone. All my 3rd world country friends kept saying it was worst then they’re homeland. I just The positive brothers could be involved in the rebuild


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 4 months ago '09        #19
messy marv stan 5200 heat pts5200 OP
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 Sin said
NYC has a $90 billion yearly budget this is light

the amazon regime could easily afford to do this without scamming taxpayers for billions in corporate welfare. bezos got $160 billion and he could easily ahve paid $8 billion for the regimes new york location
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 4 months ago '17        #20
1Oh 8 heat pts
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Queens bout to be unrecognizable

 4 months ago '11        #21
Sin 1927 heat pts1927
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 messy marv stan said
the amazon regime could easily afford to do this without scamming taxpayers for billions in corporate welfare. bezos got $160 billion and he could easily ahve paid $8 billion for the regimes new york location
The goal was probably always dc and nyc

The bids were to get the best price
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 4 months ago '10        #22
Alerts 225 heat pts225
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 MsMarySon said
Facts. I’m born and raised here but I’ve been telling my ppls to prepare for gentrification cuz alll the signs have been there in the last 2 yrs. DC is slowly becoming the best city on the planet and they’re starting to charge like it. I read a article in the post that said by next yr the average worker will need to make 80k to afford the smallest apt downtown. Average property has went up 20k since Amazon announced the winners yesterday. I feel two ways tho. I thinks it’s wrong morally but at the same time when I was coming up it was a str8 war zone. All my 3rd world country friends kept saying it was worst then they’re homeland. I just The positive brothers could be involved in the rebuild


I lived there, I know.

Where are you reading about the home prices up 20k
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 4 months ago '16        #23
00010111 107 heat pts107
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Atlanta lost.

Again.

Lol.

 4 months ago '06        #24
illathruz 78 heat pts78
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so we're just going to ignore that amazon is paying nyc $20 billion over the next 10 years?

 4 months ago '18        #25
MsMarySon 
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I lived there, I know.

Where are you reading about the home prices up 20k
The article in Express. The free one they pass out on metro. Read it on the way to work this morning

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