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I wouldn't say that at all. NYC is definitely large for tech on the East Coast but so is Boston in tech R&D, DC for government related tech companies, and Research Triangle in NC and Austin TX (if this counts as East Coast) are both hotbeds for tech startups. There really is no Bay Area equivalent on the East Coast.
Sorry to be inflammatory but in what world is Austin, TX considered East Coast?
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> Perhaps the citizens should object Perhaps they like the idea?
Don't presume consent or support based on lack of vocal opposition. Queens isn't as high income as Seattle or the part of Virginia that Amazon is in, and the people who live there may just be making ends meet, not paying attention to how gentrification of their neighborhood may eject them from it.
Seems better than presuming lack of consent and lack of support based on lack of vocal opposition?
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I beg to differ. New York City doesn't have a problem attracting jobs. Like not even a little bit. The idea that this is actually incremental revenue for the city is extremely debatable. New York City is a really big place. Midtown is the largest central business district in the country, and Lower Manhattan is the third largest, after Chicago. There are 1,700,000 jobs in Manhattan alone and 3,900,000 in New York City…
>> This giveaway is a goddamm travesty. How about instead, Cuomo gives me and any other startup founder who's been in Brooklyn or Queens for decades $48,000 for every job we've created and we tell Amazon to go fuck themselves. So true. The rent in NYC is already very high. What kind of lifestyle can a blue collar worker afford in NYC? Obviously the only winners here are corrupt politicians and greedy Amazon execs. Th…
You can dislike tax incentives if you want to, but the hyperbole is so over the top it becomes radical, divisive, noise.
We need less of this in these discussions.
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$48,000 is the cost per job, not the cost per resident.
It's not a cost though it's tax break over 10 years and there would be no tax revenue if NYC didn't get the office in the first place.
1) Incentives are not given up front. They are given proportional to the results Amazon has achieved. Amazon must make a report each year detailing their progress before any award is given. 2) The city-level incentives are available to any business. State-level incentives (I think 300m) are not. 3) Amazon has pledged to invest in the local community as part of the deal. There are plans for an elementary school and te…
I have little trust in city officials and corporations to be forthright about the deal. The bidding process is hidden and full details are slow to come out to protect the deal.
Payouts to corporations has been a pattern and it should be fixed at the federal level. Companies don’t make a bidding war to help local communities, it’s for their own bottom line.
This is such a great deal for NYC As the article says, they give up $1.5B over 10 years, but then get "Projected incremental tax revenue of more than $10 billion over 20 years." I dont know where that comes from but the payroll and property taxes paid by 25k employees dwarves the incentives. The most important part is it cements NYC as the main tech center on the East Coast. That is invaluable. EDIT: I wonder if NYC…
"The most important part is it cements NYC as the main tech center on the East Coast." This has long ago been cemented...
Has these type of incentives been illegal, Amazon would have to pick a city from the US and the overall US economy would be 1.5 billion richer.
The problem with incentives is that presents a "prisoner dilemma" to cities. And overall drives taxes down.
Sorry for my English.
Perhaps the citizens should object, I hear one of their congress critters is shitposting on twitter to that end. If the locals don't want their lives upended by gentrification, Berlin has shown a good example of how to block uninvited expansion by tech giants: https://www.bbc.com/news/world-europe-45971538
They elected the people that made that decision. If they don't like it, they can vote them out. Citing an example of some Berliner NIMBYs is not really helping your argument.
News of this deal conveniently came out right after Cuomo was reelected
1) Incentives are not given up front. They are given proportional to the results Amazon has achieved. Amazon must make a report each year detailing their progress before any award is given. 2) The city-level incentives are available to any business. State-level incentives (I think 300m) are not. 3) Amazon has pledged to invest in the local community as part of the deal. There are plans for an elementary school and te…
It’s really cool how Amazon has hundreds of cities up in arms bidding just to give Long Island such a great deal. /s I have little trust in city officials and corporations to be forthright about the deal. The bidding process is hidden and full details are slow to come out to protect the deal. Payouts to corporations has been a pattern and it should be fixed at the federal level. Companies don’t make a bidding war to…
This is a great point. Politicians obfuscate the legislative deal-making process and tech companies sneak all sorts of clauses into EULAs and employ dark patterns in their software. Why should we assume this deal, birthed from the intersection of politics and technology, be any better?