Local politicians run off Amazon - Economics

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Seppia
Posts: 1307
Joined: Tue Aug 30, 2016 9:34 am
Location: Italy

Re: Local politicians run off Amazon - Economics

Post by Seppia »

https://www.wsj.com/articles/new-york-c ... 1562760760

Looks like amazon didn't need those massive tax breaks after all

IlliniDave
Posts: 2784
Joined: Wed Apr 02, 2014 7:46 pm

Re: Local politicians run off Amazon - Economics

Post by IlliniDave »

Seppia wrote:
Thu Jul 11, 2019 4:17 pm
https://www.wsj.com/articles/new-york-c ... 1562760760

Looks like amazon didn't need those massive tax breaks after all
?? The article is about Alphabet. Maybe you meant "Queens doesn't need Amazon"? Amazon never needed the tax incentives I suspect, they just wanted them. They'll probably wind up somewhere else with more business-friendly tax policies. It will be interesting to see if there were any incentives as part of this deal, and if so, how local people react to them. It's a much smaller commitment than Amazon wanted to make in therms of jobs, IIRC.

Seppia
Posts: 1307
Joined: Tue Aug 30, 2016 9:34 am
Location: Italy

Re: Local politicians run off Amazon - Economics

Post by Seppia »

Uhm...
looks like amazon really didn't need the tax breaks after all....
Quietly coming to NYC, faster than promised, without NY spending a dime.
https://www.profgalloway.com/hq2-midlife-crises?
Six months after "pulling out," the company has 860 job listings in NYC. That’s 4x what Google and Apple have posted. Google — having just purchased 325,000 sq ft in the Meatpacking District for $600 million — has a fraction of the hiring mojo of the firm that supposedly packed up and left six months ago. Since, again, “pulling out” Amazon has 1,577 new hires (1,033 at Amazon and 544 at AWS). In exchange for over $3 billion in tax breaks/subsidies, Amazon had dangled 25,000 jobs over 15 years. At this point, Amazon is on pace to beat that.
I'll call this one a win :)

Seppia
Posts: 1307
Joined: Tue Aug 30, 2016 9:34 am
Location: Italy

Re: Local politicians run off Amazon - Economics

Post by Seppia »

Adding another 1500 employees, without any incentives needed

https://www.cnbc.com/2019/12/06/amazon- ... -2021.html

Seppia
Posts: 1307
Joined: Tue Aug 30, 2016 9:34 am
Location: Italy

Re: Local politicians run off Amazon - Economics

Post by Seppia »

https://nypost.com/2020/03/12/amazon-bu ... 5-billion/

Amazon purchases massive building in NYC.

It really seems those massive tax breaks weren’t needed

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