This could be an interesting development for the DC metro area.
Amazon Pulls Out of Planned New York City Campus
11–20 of 1001 posts
Re: Amazon Pulls Out of Planned New York City Campus
#12Is there a press release or any statement from Amazon about this? Paywalled here (and would prefer a direct source anyway).
Re: Amazon Pulls Out of Planned New York City Campus
#13Good, Amazon shouldn't be getting any subsidies just for having their offices in a city.
Even if the city gets back much more in tax revenue?
No, because then it's a race to the bottom and all other companies start expecting these same deals (or even better), and eventually you do end up with a situation where the city does not get back more in tax revenue.
It's simple negotiation; you may lose some money on that one deal, but you'll gain more in the end by not decreasing the value of all subsequent deals.
Re: Amazon Pulls Out of Planned New York City Campus
#14Of all the places, why did NYC offer Amazon subsidies? NYC actually has too many good jobs for the amount of space...
I am also proud of my cantankerous fellow New Yorkers who fought this.
Re: Amazon Pulls Out of Planned New York City Campus
#15A shame. As an employee of a Big N company in NYC, this would have provided upward pressure on my salary (even if personally I wouldn't want to go work for Amazon). But I didn't like the big tax breaks, and as a taxpayer of the city I'm glad my money won't go towards subsidizing the expansion of one of the world's most valuable companies. It's too bad Amazon wasn't willing to pay their fair share.
Upward pressure on your salary. Ew. Keep that to yourself.
Re: Amazon Pulls Out of Planned New York City Campus
#16Interesting. I guess they estimated that the battle to retain the tax breaks wasn't worth the fight. I wonder if they'll continue to expand in Seattle, or wait a few years before putting HQ2 elsewhere.
Re: Amazon Pulls Out of Planned New York City Campus
#17Wonder how many people started real-estate speculation who might be hurt from this?
Re: Amazon Pulls Out of Planned New York City Campus
#18Good, Amazon shouldn't be getting any subsidies just for having their offices in a city.
They're still going to be getting subsidies, just not from NY.
Re: Amazon Pulls Out of Planned New York City Campus
#19Good, Amazon shouldn't be getting any subsidies just for having their offices in a city.
They’ll still get subsidies, just somewhere. The system being what it is, you can’t fault them for finding the fair market price of setting up their campus at you location. It’s a mutually beneficial deal, but now Mew York gains nothing at all.
That said the system could be changed and laws written to prevent subsidies all together. Then competition for large workforces would be based on other factors.
Re: Amazon Pulls Out of Planned New York City Campus
#20So is this a boon for Northern Virginia or will something similar happen there?