Good news! Amazon picks New York City, Washington D.C. area for new offices
Article CAIRCO note:
Colorado taxpayers let off the hook
Article publisher:
Reuters
Article date:
14 November 2018
Article category:
Colorado News
Medium
Article Body:
Amazon.com Inc (AMZN.O) picked America’s financial and political capitals for massive new offices on Tuesday, branching out from its home base in Seattle with plans to create more than 25,000 jobs in both New York City and an area just outside Washington, D.C. ...
Locating close to the Pentagon may also help Amazon win a $10 billion cloud-computing contract from the U.S. Department of Defense, said Michael Pachter, an analyst at Wedbush Securities. ...
The company said it will receive performance-based incentives of $1.525 billion from the state of New York, including an average $48,000 for each job it creates. ...
In Virginia, Amazon will receive performance-based incentives of $573 million, including an average $22,000 for each job it creates.
These rewards come on top of $1.6 billion in subsidies Amazon has received across the United States since 2000, according to a database from the Washington-based watchdog Good Jobs First....
CAIRCO Notes
Taxpayers are finally off the hook for bribes that would have been paid to Amazon to move to Denver. It is not clear how much Colorado taxpayers would have had to pay. It undoubtedly would have been at least a much as New York and D.C. will now have to pay.
Had Amazon accepted taxpayer-funded bribes to move to Colorado, more than 25,000 new jobs would be created, thus fueling Colorado's out-of-control growth.
Related
Crony Capitalism: Democrats Give Away $2 Billion in Welfare to Amazon, Breitbart, November 13, 2018.
Amazon 'duped' New York into 'bad deal' for new HQ, local politicians say, Fox Business, November 13, 2018:
... The company said it will receive “performance-based direct incentives” of $1.525 billion based on its promise to create 25,000 high-paying jobs in the New York area. That total includes a tax credit of $1.2 billion over the next 10 years, or roughly $48,000 per job, as well as a further grant of $325 million tied to the square footage Amazon occupies over the same time period. Amazon can also apply for separate incentives through New York City economic development programs....
“New Yorkers have real unmet needs from their government,” New York State Sen. Michael Gianaris and New York City Council member Jimmy Van Bramer, both Democrats, said in a statement. “Our subways are crumbling, our children lack school seats, and too many of our neighbors lack adequate health care. It is unfathomable that we would sign a $3 billion check to Amazon in the face of these challenges.”...
The company is also building the other half of its new headquarters in Arlington County, Virginia. The region offered Amazon $573 million in performance-based direct incentives....
Amazon HQ2: New York politicians criticize 'corporate welfare', Fox Business, November 12, 2018.
Is Amazon Moving to Denver?, 5280, eptember 14, 2017
Why former Gov. Dick Lamm opposes Olympics, Amazon in Colorado, 9 News, March 11, 2018:
... "We have among the lowest unemployment rates in the world. They're looking at 30- to 50,000 (jobs). That means most of those people are going to have to come in from out of state. Do you know what it costs us to settle somebody coming in from out of state? It's 20- to 30,000 in roads, and schools, and infrastructure. And then they want us to give them a subsidy - the largest corporation in America - or one of them. I think the audacity of Amazon, asking for these various communities to bigger themselves with money that we desperately need for school, and infrastructure, and roads to help settle those people."...
Why are local leaders trying to hard to get these organizations?
"Because they're following the ancient way - you know, you seem something like this and you jerk your knees, and you say, 'Wow, that's good.' I don't think they thought it through. I don't think they thought Amazon through, and I don't think they thought the Olympics through."...
Colorado grows faster than all but seven states, adding 77,000 residents in past year - Statewide population tops 5.6 million, Denver Post, December 20, 2017.
Colorado’s population could increase by nearly 3 million people by 2050, according to forecast numbers, Denver Post, July 28, 2017.
Colorado Water Use Will Likely Double By 2050, CNS4, November 23, 2011.