November 13, 2018 Comments Off on Amazon Selects New York City and Northern Virginia for New HQs Views: 1814 National News, Top National

Amazon Selects New York City and Northern Virginia for New HQs

Amazon selected New York City and Arlington, VA as the locations for the company’s new headquarters. The e-commerce giant plans to invest $5 billion in building the pair of 4-million-square-foot facilities, and expects to create more than 50,000 jobs across the two new HQ locations. The new HQs will join Seattle as the company’s three North American headquarters.

The new Washington, D.C. metro headquarters in Arlington will be located in National Landing in Northern Virginia, and the New York City HQ will be located in the Long Island City neighborhood in Queens (pictured). The facilities are each planned for four million square feet of office space, with an opportunity to expand to eight million square feet.

Amazon’s Jeff Bezos says, “These two locations will allow us to attract world-class talent that will help us to continue inventing for customers for years to come. The team did a great job selecting these sites, and we look forward to becoming an even bigger part of these communities.”

Amazon also selected a site in downtown Nashville for a new one-million-square-foot Center of Excellence for its Operations business, which is responsible for the company’s customer fulfillment, transportation, supply chain, and other similar activities.

Amazon will receive performance-based direct incentives of $1.525 billion, based on the company creating 25,000 jobs in Long Island City. This includes a refundable tax credit through New York State’s Excelsior Program of up to $1.2 billion calculated as a percentage of the salaries Amazon expects to pay employees over the next 10 years, which equates to $48,000 per job for 25,000 jobs, with an average wage of over $150,000; and a cash grant from Empire State Development of $325 million, based on the square footage of buildings occupied in the next 10 years.

Amazon will receive performance-based direct incentives of $573 million, based on the company creating 25,000 jobs with an average wage of over $150,000 in Arlington. This includes a workforce cash grant from the Commonwealth of Virginia of up to $550 million, based on $22,000 for each job created over the next 12 years.

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