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Four new things we learned today about Amazon’s expansion plans

Four new things we learned today about Amazon’s expansion plans

Executives traveled across the United States - and to one Canadian city - to tour sites to find the company's next home.

Among the finalists that Amazon was holding advanced talks with were Dallas, Long Island City in NY and Arlington near Washington, D.C., Reuters has reported https://www.reuters.com/article/us-amazon-com-headquarters/amazon-plans-to-split-second-headquarters-in-two-cities-sources-idUSKCN1NA2HM, citing sources.

Meanwhile, Lina Khan, a senior fellow with the Open Markets Institute, wrote in a Twitter post on Tuesday: "Amazon extracting highly favourable terms, only to halve its promise and expect those same terms, is an exercise of bargaining power that will be familiar to numerous millions of merchants reliant on Amazon's platform". At the time, the publication said the company was in late-stage talks with New York City, Crystal City, Virginia and Dallas.

On Tuesday, it announced that HQ2 and the 50,000 jobs that come with it will be divided between New York City and Arlington, Va.

New York State will grant $1.525 billion in incentives contingent on the company creating 25,000 new jobs with an average salary of $150,000 and occupying a certain amount of office space.

Not everyone is happy with the deals Amazon made when it picked the multiple locations for its so-called second headquarters.

Alexandria Ocasio-Cortez, a newly elected member of Congress who represents Long Island City, the NY neighbourhood Amazon has chosen, said her office had received numerous calls from constituents expressing "outrage" about the tax benefits the firm is due to receive.

"We're thrilled that Amazon selected One Court Square as a critical component of its HQ2 plans for Long Island City", said Nicholas Bienstock, a managing partner at Savanna, in prepared remarks.

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Meanwhile, Sen. Michael Gianaris (D-Queens) and Councilman Jimmy Van Bramer (D-Queens) have slammed Amazon's plans to build its headquarters in Long Island City.

Virginia Tech said the campus will be on U.S. Route 1 at National Landing in Alexandria near Potomac Yard, about two miles away from Amazon's new location in Arlington.

Amazon kicked off its competition to select a new headquarters in September 2017, a courting process that's drawn considerable criticism in recent days.

Amazon declined to comment to CNN.

The company estimates that its investments in Seattle from 2010 to 2016 added $38 billion to the city's economy.

The two areas already have relatively low unemployment rates, and Fitch Ratings has noted that even a full HQ2 only represented 1.5% of the Washington area and 0.5% of the NY area's labor force.

She added, "Amazon is a billion-dollar company".

Amazon's search for its second headquarters has prompted disputes nationwide over how much taxpayer money cities should offer to woo multibillion-dollar private corporations - and whether citizens have a right to know how much is being offered.


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