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Amazon Pulls Out of Planned New York City Campus
311–320 of 1001 posts
Re: Amazon Pulls Out of Planned New York City Campus
#312Not going to miss them. Local governments giving huge tax breaks in exchange for stadiums, businesses relocating never works out.
I have plenty of examples where it works out. The town I live in gave large tax breaks not too long ago and it's working well. Nearby, sports facilities were financed with balloted measures at the request of the public, sometimes in conjunction with the local ISDs who share the facilities. The vast majority are benefiting from this public/private economic cooperation.
Re: Amazon Pulls Out of Planned New York City Campus
#313I guess I didn't realize how many commentators here were New Yorkers. XD Everyone's moving to more comfortable places with lower costs of living. NYC is not an attractive place for job candidates unless those candidates are already in NYC. Even companies with a strong presence in NYC are expanding in places like Nashville, Omaha, Dallas, Denver, etc. rather than in NYC. At some point, New Yorkers ought to ask themsel…
I hope they don't. I'm happy with my low-cost midwestern town.
Re: Amazon Pulls Out of Planned New York City Campus
#314If Amazon had just quietly announced plans to expand to LIC without the "HQ2 Search" dog and pony show they almost certainly would still be here. Google buys entire city blocks and nobody bats an eye. Turns out that publicly shaking down cities across the US tends to draw out the opposition. More publicity = more scrutiny = more angry opponents of your business decision
>Turns out that publicly shaking down cities across the US tends to draw out the opposition. Unless it's for a football stadium.
> Unless it's for a football stadium.
You haven't seen the perpetual and energetic fights in my part of the nation about public funding for football (and other professional sports) stadiums. Sports businesses trying to get tax money to be spent in order to enhance their profitability is absolutely something that brings out the opposition.
Re: Amazon Pulls Out of Planned New York City Campus
#315Hey, remember those Amazon insiders that bought property on the cheap? "...Amazon employees are apparently eager to get a head start on the New York City real estate game. Condo sales in Long Island City are soaring following the announcement that the Queens, New York, [a] neighborhood will host part of Amazon's HQ2, The Wall Street Journal reports. According to The Journal, one brokerage firm sold 150 units in four…
That was my first thought on seeing the headline as well. However I think those buyers will still do just fine. I doubt very many people have lost money by investing in NYC real estate.
Right, it's New York. If anything they avoided an investigation by not selling to Amazon.
Re: Amazon Pulls Out of Planned New York City Campus
#316Earlier quoted context omitted.
There 2014 Princeton study that showed only the top 10% of income earners political opinions are reflected in the political leanings of the elected representatives in the US. I did a short video on this: https://youtu.be/sD8KtaNzI8o
I saw somewhere that the turnout for Alexandria Ocasio-Cortez's election was somewhere around 4%. The voter turnout for most American elections is really quite low, and I wouldn't be surprised if there were distinct differences in turnout between income percentiles. Perhaps that might go some way towards explaining it. Edit: I did a bit of research below, and 4% definitely does not seem accurate. I have no idea where…
The population of New York's 14th Congressional District was (as of 2016) 691,715: https://en.wikipedia.org/wiki/New_York%27s_14th_congressiona...
The number of votes cast in New York's 14th Congressional District election, 2018 was 141,122: https://ballotpedia.org/New_York%27s_14th_Congressional_Dist...
That's approximately 20% of the total population. I can find no info on what percentage of that 691,715 is eligible voters, but the 4% claim appears pretty ridiculous.
Re: Amazon Pulls Out of Planned New York City Campus
#317Google didn't need any dog and pony show or significant forms of corporate welfare (that we know of) to announce a doubling of their presence in New York. https://www.washingtonpost.com/technology/2018/12/17/google-...
But as a thought experiment, say they did create 25,000 jobs at an average salary of 100,000. What type of taxes and secondary effects on the economy does this have?
Does the city get back more than the 3 billion in concessions and how long does that take?
Re: Amazon Pulls Out of Planned New York City Campus
#318Earlier quoted context omitted.
You won!
Was I too snarky? How about a little more? The planet is sad because 25,000 people won't be taking the subway to work.
Hopefully the planet understands that 25000 people can find other jobs in NYC and still take the subway to work?
Your math is way off.
Re: Amazon Pulls Out of Planned New York City Campus
#319Earlier quoted context omitted.
Or, you'll lose out on all the businesses that won't start or expand there because the baseline level of taxation is too unfavorable for the economy (in either sense of the word) that the city offers. It's almost like taxing easily-moveable economic activity is a bad idea.
And yet there's a huge number of businesses that do have presences in NYC because the tax revenue funds all sorts of things that make NYC attractive to businesses that can't be gotten elsewhere. A lot of what makes NYC great (like the 24/7 public transit system, the best in the country) costs serious money to operate. You need to get that money from tax revenue. And businesses aren't actually easily-movable, not at a…
>And yet there's a huge number of businesses that do have presences in NYC because the tax revenue funds all sorts of things that make NYC attractive to businesses that can't be gotten elsewhere.
Most of which were present there because they set up a long time ago. The current environment makes it so that you pretty much have to get a discount to make it worth starting there, per the famous reddit comment:
https://www.reddit.com/r/nyc/comments/9wploz/ocasiocortez_bl...
>And businesses aren't actually easily-movable, not at all.
"Where they decide to locate new offices" is.
Re: Amazon Pulls Out of Planned New York City Campus
#320Google didn't need any dog and pony show or significant forms of corporate welfare (that we know of) to announce a doubling of their presence in New York. https://www.washingtonpost.com/technology/2018/12/17/google-...
But as a thought experiment, say they did create 25,000 jobs at an average salary of 100,000. What type of taxes and secondary effects on the economy does this have? Does the city get back more than the 3 billion in concessions and how long does that take?
they estimated about 30B over 10 years