Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

NY state tax break is $48k per Amazon HQ job

fox5ny.com

Post reply on HN
Print view View original

201–210 of 359 posts

Re: NY state tax break is $48k per Amazon HQ job

#201

Post by kodablah »

chiefalchemist wrote: post #180
kodablah wrote: post #166

Earlier quoted context omitted.

> Regardless, the gov should not be in the job buying biz Says you. I think they do a better job buying that biz than many of the other biz's they buy with public funds. If you want to see pockets being lined, look to things that don't have returns on investment or are poorly managed in real corrupt ways (ala many public pension plans). Not comparing dollar spent to dollar spent of tax money compared to benefits make…

The gov's job is to govern. Period. How about we let it get that right before it starts branching off into things it's has little or no expertise in. Again. The gov created the housing bubble __and__ the student loan bubble. I don't say they should be in the job buying biz. __The Gov__ has said that. Whether you're listening or not is up to you.

> The gov created the housing bubble __and__ the student loan bubble. I don't say they should be in the job buying biz.

More specifically, you should believe based on your examples that they shouldn't be in the money management business. Because they are really bad at it. I can definitely sympathize with those applauding them for taking less as a way to promote growth.

Re: NY state tax break is $48k per Amazon HQ job

#202

Post by seattle_spring »

vonmoltke wrote: post #197
lallysingh wrote: post #155

Earlier quoted context omitted.

Are these software jobs? I don't know if they'll be attracting more people in such a tight labor market, or just bumping up rates for those who already here. There's plenty of unfulfilled demand for software engineers in NY, what does Amazon offer to add to supply?

> There's plenty of unfulfilled demand for software engineers in NY, what does Amazon offer to add to supply? You wouldn't know that from the pickiness of some companies around here.

I think GP meant good software engineers.

Re: NY state tax break is $48k per Amazon HQ job

#203

Post by outside1234 »

ConcernedCoder wrote: post #199
chiefalchemist wrote: post #131

Let's be clear, the free market this is not. It's yet another perfect example of government gone wild. It's one thing for to use taxpayer monies to create jobs and job opportunity (i.e., education). That's a reasonable expectation within the scope of gov's governing. However, it's another thing for gov to buy jobs - and thus votes - by effectively subsidizing some mega-corporation. If Amazon needs money, that's what…

Wisconsin spends 4 billion in tax breaks to attract a Taiwanese manufacturer ( FoxConn ) and nobody bats an eye...

Oh, believe me, eyes were batted there too. You might notice that state went blue.

Re: NY state tax break is $48k per Amazon HQ job

#204

Post by airstrike »

jopsen wrote: post #179
NoblePublius wrote: post #138

Earlier quoted context omitted.

Literally the opposite. The tax gains out number the tax breaks 3 to 1. Each one of these $150k jobs will net NY state $13.8k of income tax per year and (at least) $2500 of sales tax. The tax break per job is $4800 per year (the $48k figure you may have seen is over ten years).

It's still a race to the bottom. Attracting businesses with tax-exempts is a zero-sum game. In the EU we have rules against things like this. As it's considered anti-competitive behavior.

> Attracting businesses with tax-exempts is a zero-sum game.

That's not a foregone conclusion.

Re: NY state tax break is $48k per Amazon HQ job

#206

Post by zjaffee »

fmmow wrote: post #113
vdnkh wrote: post #32

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…

Tech hasn't been kind to Seattle or SF. Maybe to the people attracted likely to be filling this jobs, but not to the people in the surrounding areas. LIC was mostly warehouses at one point and you're right a lot of the new units are housing for people moving away from Manhattan. But the concern is not just about LIC; it's about Corona, Astoria, Jackson Heights. These are areas with a lot of immigrant communities, com…

Tech might not have been kind to the cities of SF and Seattle sure, but tech built the greater metropolitan regions of both of these areas, where Seattle metro's population has doubled as a result of the tech boom since 1980, and the bay area's population has grown by ~70% in the same time frame, for reference, this isn't that far off from the nominal growth seen in greater Los Angeles during the same period.

Re: NY state tax break is $48k per Amazon HQ job

#208

Post by astura »

killyp wrote: post #73
anonyppppp wrote: post #40

Earlier quoted context omitted.

"The most important part is it cements NYC as the main tech center on the East Coast." This has long ago been cemented...

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.

Nowhere in Texas counts as "East Coast."

Re: NY state tax break is $48k per Amazon HQ job

#209

Post by vonmoltke »

seattle_spring wrote: post #202
vonmoltke wrote: post #197

Earlier quoted context omitted.

> There's plenty of unfulfilled demand for software engineers in NY, what does Amazon offer to add to supply? You wouldn't know that from the pickiness of some companies around here.

I think GP meant good software engineers.

The definition of "good" is where the pickiness comes in.

Re: NY state tax break is $48k per Amazon HQ job

#210

Post by weeksie »

CPLX wrote: post #85
rb808 wrote: post #7

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…

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…

The city wants to develop a new business district in LIC.
Post reply on HN