Jump to content

NSIAP: Amazon HQ2, more jobs and traffic jams

Grippe

By Grippe
in Business and Markets

 Share

Recommended Posts

clapclapclap

clapclapclap 9000

Posted
Posted (edited)

So HQ2 and the other HQ2.

hqdefault.jpg

https://www.wsj.com/articles/amazon-chooses-new-york-city-and-northern-virginia-for-additional-headquarters-1542075336

Amazon Chooses New York City and Northern Virginia for Additional Headquarters

New York City and Northern Virginia will be the homes for Amazon.comInc.’s AMZN -4.41% second and third headquarters, according to people familiar with the matter, ending a more than yearlong public contest that started with 238 candidates and ended with a surprise split of its so-called HQ2.

The imminent announcement is expected as soon as Tuesday, according to the people. Other cities may also receive major sites, some of the people said.

Amazon is dividing the second headquarters evenly between New York’s Long Island City and Arlington County’s Crystal City neighborhoods, which are both located directly across from the major city centers. The decision effectively gives Amazon a major presence in three coastal cities...

...The Wall Street Journal first reported earlier this month that Amazon had reached late-stage negotiations with locations including Crystal City in Northern Virginia, Dallas and New York City. Meanwhile, conversations had cooled with cities like Raleigh, N.C., Denver and Toronto....

Edited by clapclapclap
  • Like 1
  • Haha 1
Link to comment
Share on other sites
FondrenRoad

FondrenRoad 4378

Posted
Posted (edited)
52 minutes ago, Stunns38 said:

Well, I had a chance to purchase a 3-bedroom unit in Long Island City in this building below for $550 K in 2009 at the bottom of the market. Was scared to pull the trigger.

https://streeteasy.com/building/the-powerhouse

Now that apt tripled in price and will skyrocket even more. FML.

#pissedoffhumblebrag

You could have bought whole blocks in LIC for that amount in 2000.  The development rate is ridiculous. There may not be a comparable place anywhere else. 

Edited by FondrenRoad
Link to comment
Share on other sites
Cheeseweasel

Cheeseweasel 26438

Posted
Posted
10 hours ago, Patrick Bateman said:

NYC and inside the Beltway in DC.  Two places any multi-national has to be, but also two places which really don't need a "HQ" presence for a multitude of reasons.  What a shitty process to come up with the two most obvious destinations possible.

No doubt. I could have saved them a shitload of time and money and picked this from the beginning. 

Link to comment
Share on other sites
Grippe

Grippe 310

Posted
  • Author
Posted (edited)

(Our story begins in August/September in Seattle... )

Amazon's Independent, Autonomous selection committee to the Board: "After exhaustive research we can unanimously declare Long Island is the perfect location for our new headquarters facility"

Jeff Bezos, sitting at the head of the Board's table: "Your selection is incorrect, the unanimous decision is D.C."

(awkward silence ensues...)

Edited by Grippe
Link to comment
Share on other sites
staboner

staboner 4969

Posted
Posted (edited)
10 hours ago, Patrick Bateman said:

NYC and inside the Beltway in DC.  Two places any multi-national has to be, but also two places which really don't need a "HQ" presence for a multitude of reasons.  What a shitty process to come up with the two most obvious destinations possible.

Well, it makes sense

1) the government of the country

2) the bankers of the government of the country

playing it safe and entrenching, because well, corruptions. 

corruptions should not starts. less money in politics and such - end transmission. 

Edited by staboner
Link to comment
Share on other sites
FondrenRoad

FondrenRoad 4378

Posted
Posted
50 minutes ago, Grippe said:

(Our story begins in August/September in Seattle... )

Amazon's Independent, Autonomous selection committee to the Board: "After exhaustive research we can unanimously declare Long Island is the perfect location for our new headquarters facility"

Jeff Bezos, sitting at the head of the Board's table: "Your selection is incorrect, the unanimous decision is D.C."

(awkward silence ensues...)

While Long Island City is technically on Long Island along with the rest of Queens and Brooklyn, it isn't commonly considered "Long Island."

Link to comment
Share on other sites
FondrenRoad

FondrenRoad 4378

Posted
Posted
49 minutes ago, staboner said:

Well, it makes sense

1) the government of the country

2) the bankers of the government of the country

playing it safe and entrenching, because well, corruptions. 

corruptions should not starts. less money in politics and such - end transmission. 

Yes and no. You are forgetting access to an existing educated labor pool with the skillsets they seek.  

Link to comment
Share on other sites
FondrenRoad

FondrenRoad 4378

Posted
Posted
2 minutes ago, staboner said:

agreed

That doesn't make sense. Of course Amazon cares about the labor pool. That is the primary reason for the HQ2 search in the first place.  Seattle is entirely tapped out, and relocation costs are becoming exponentially more expensive there. 

They dont need to be HQd in DC or NY to have their tentacles in gov't and finance. They already have offices in both places with that mission. The HQ2 is about splitting programming and development talent. 

Link to comment
Share on other sites
PhillyD

PhillyD 1257

Posted
Posted
13 hours ago, Stunns38 said:

Well, I had a chance to purchase a 3-bedroom unit in Long Island City in this building below for $550 K in 2009 at the bottom of the market. Was scared to pull the trigger.

https://streeteasy.com/building/the-powerhouse

Now that apt tripled in price and will skyrocket even more. FML.

#pissedoffhumblebrag

I just looked at the current comps.  You fucked up before Amazon.

Link to comment
Share on other sites
staboner

staboner 4969

Posted
Posted
1 hour ago, FondrenRoad said:

That doesn't make sense. Of course Amazon cares about the labor pool. That is the primary reason for the HQ2 search in the first place.  Seattle is entirely tapped out, and relocation costs are becoming exponentially more expensive there. 

They dont need to be HQd in DC or NY to have their tentacles in gov't and finance. They already have offices in both places with that mission. The HQ2 is about splitting programming and development talent. 

lord brother relax. labor is important. 

Link to comment
Share on other sites
Aqua Buddha

Aqua Buddha 14582

Posted
Posted

Underreported part of the story:

 

Call it the “consolation prize” in Amazon’s months-long HQ2 sweepstakes.

Amazon (AMZN) on Tuesday finally made the official announcement that it will split its HQ2 between two locations: Arlington, Va., and Long Island City in the Queens borough of New York City. That decision was first reported in the media over a week ago.

But the official announcement also contained a surprise: Amazon will open an “Operations Center of Excellence” in downtown Nashville, Tenn., and create 5,000 jobs there.

Amazon is investing $5 billion total in the Virginia and New York offices and will create 25,000 full-time jobs at each. Its release does not say how much it is investing in Nashville, but explains that the Nashville operations center will be “responsible for the company’s customer fulfillment, transportation, supply chain, and other similar activities.” The center will open up “just north of the Gulch,” a young and rapidly redeveloping part of Nashville that has been compared by some to Brooklyn. Nashville overall has been growing rapidly in the last few years with an influx of millennials; its biggest industry is health care.

 

Nashville was among 20 finalist cities Amazon announced for HQ2 back in January. The others included Austin, Texas; Boston; Columbus, Ohio; Newark, N.J.; Pittsburgh; Raleigh, N.C.; and Toronto.

There was a lot of initial excitement over the possibility that Amazon would go to a city that needed the infusion of jobs for revitalization, like Newark or Pittsburgh, and now there is criticism that in the end the company simply went to D.C. and New York, where local housing prices are likely to rise and public transportation will get more crowded as a result of Amazon coming to town.

The 5,000 jobs coming to Nashville are, in a sense, like a bone thrown to one of the underdog finalists.

https://finance.yahoo.com/news/nashville-unexpected-third-place-winner-amazon-hq2-162152894.html

Link to comment
Share on other sites
Orange&White

Orange&White 5522

Posted
Posted
14 hours ago, Patrick Bateman said:

What a shitty process to come up with the two most obvious destinations possible.

Shitty except that got every city vying for it to:

Do all of the research.

Pay for all of the necessary trips by Amazon search committee.

Compete against each other by trying to out-offer ridiculous incentives.

Pretty smart on Amazon's part. The City's trying to win it just come out looking like whores that got dumped on the corner.

  • Like 1
Link to comment
Share on other sites
FondrenRoad

FondrenRoad 4378

Posted
Posted
22 minutes ago, Aqua Buddha said:

Underreported part of the story:

 

Call it the “consolation prize” in Amazon’s months-long HQ2 sweepstakes.

Amazon (AMZN) on Tuesday finally made the official announcement that it will split its HQ2 between two locations: Arlington, Va., and Long Island City in the Queens borough of New York City. That decision was first reported in the media over a week ago.

But the official announcement also contained a surprise: Amazon will open an “Operations Center of Excellence” in downtown Nashville, Tenn., and create 5,000 jobs there.

Amazon is investing $5 billion total in the Virginia and New York offices and will create 25,000 full-time jobs at each. Its release does not say how much it is investing in Nashville, but explains that the Nashville operations center will be “responsible for the company’s customer fulfillment, transportation, supply chain, and other similar activities.” The center will open up “just north of the Gulch,” a young and rapidly redeveloping part of Nashville that has been compared by some to Brooklyn. Nashville overall has been growing rapidly in the last few years with an influx of millennials; its biggest industry is health care.

 

Nashville was among 20 finalist cities Amazon announced for HQ2 back in January. The others included Austin, Texas; Boston; Columbus, Ohio; Newark, N.J.; Pittsburgh; Raleigh, N.C.; and Toronto.

There was a lot of initial excitement over the possibility that Amazon would go to a city that needed the infusion of jobs for revitalization, like Newark or Pittsburgh, and now there is criticism that in the end the company simply went to D.C. and New York, where local housing prices are likely to rise and public transportation will get more crowded as a result of Amazon coming to town.

The 5,000 jobs coming to Nashville are, in a sense, like a bone thrown to one of the underdog finalists.

https://finance.yahoo.com/news/nashville-unexpected-third-place-winner-amazon-hq2-162152894.html

Actually, it would be interesting to see why they chose LIC over Newark.  Both have access to roughly the same labor pool.  Newark would have been a hell of a lot cheaper to build out, but way more disruptive to the local residents.

Link to comment
Share on other sites
Guest

Guest

Posted
Posted
21 minutes ago, Orange&White said:

Shitty except that got every city vying for it to:

Do all of the research.

Pay for all of the necessary trips by Amazon search committee.

Compete against each other by trying to out-offer ridiculous incentives.

Pretty smart on Amazon's part. The City's trying to win it just come out looking like whores that got dumped on the corner.

And a lot of Austin and Dallas folks got to pretend to be globally relevant for a while.

Link to comment
Share on other sites
clapclapclap

clapclapclap 9000

Posted
Posted

HQLoot

NY taxpayers to pay $48,000 per Amazon HQ job

Spoiler

 

New York state is kicking in more than $1.5 billion in taxpayer-funded incentives for getting half of Amazon's second headquarters located in a section of Queens.

The Seattle-based company made its long-awaited announcement Tuesday, saying Long Island City and Alexandria, Virginia, will each get 25,000 jobs. The online retailer also said it will open an operations hub in Nashville, creating 5,000 jobs.

Amazon will also receive as-yet unspecified incentives from New York City.

New York state's incentives are nearly triple those of Virginia's, while Tennessee's are $102 million.

According to Amazon, the cost per job for New York taxpayers is $48,000, compared to $22,000 for Virginia and $13,000 for Tennessee.

In a statement released by Amazon, Cuomo called the agreement "one of the largest, most competitive economic development investments in U.S. history."

New York City Council Speaker Corey Johnson issued a statement saying:  "Amazon is one of the richest companies in the world...I also don’t understand why a company as rich as Amazon would need nearly $2 billion in public money for its expansion plans at a time when New York desperately needs money for affordable housing, transportation, infrastructure and education." 

FROM AP: 

NEW YORK CITY - Long Island City

Incentives offered to Amazon:

— Performance-based direct incentives of $1.525 billion, based on 25,000 full-time, high-paying jobs created. This includes a refundable tax credit 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.

— Cash grant of $325 million based on the square footage of buildings occupied in the next 10 years.

— Amazon will also apply for as-of-right incentives including New York City's Industrial & Commercial Abatement Program and New York City's Relocation and Employment Assistance Program. There was no dollar figure immediately attached to this benefit.

City Benefits:

— More than 25,000 full-time jobs.

— $2.5 billion investment from Amazon.

— Facilities totaling 4 million square feet, with the potential to double in size.

— Projected incremental tax revenue of more than $10 billion over 20 years.

 

 

Link to comment
Share on other sites
and

and 73

Posted
Posted
46 minutes ago, happyfunball said:

 

I for one am happy that they bolted on Dallas but had they chosen Dallas the math would've been in their favor.

Amazon promises to create 50,000 jobs. Let's say half of them are "new" residents and choose to live in the Dallas county:

25,000 X (250,000 home) LOL at the price but let's be conservative: $6,250,000,000 

Property taxes on those $6.25 billion dollars: $6.25 X 0.03 = $187.5 million in property taxes alone. Plus their secondary economic benefits are going to be incredibly impactful given that average salary for those employees is supposed to be somewhere around $150,000. 

I'm not in favor of offering tax incentives to these giant immensely successful companies and I wish ALL our cities would band together and decline to offer any but if they did it would be profitable for them. 

  • Like 1
  • Fuck You 1
Link to comment
Share on other sites
tokamak

tokamak 6392

Posted
Posted
This was about Bezos future political career.
And who doled out the most cash.
Not complicated.

I haven't seen a comparison of all the offers, but I'd be very surprised if the winners made the best offers from a purely financial standpoint. My guess is that Amazon had a very short list (maybe even a single location) in mind all along and the whole yearlong dog and pony show was just to get the best bid. Dallas, Atlanta, Raleigh, etc never had a real shot, they were just stalking horses.
  • Like 1
Link to comment
Share on other sites
JimmyJames

JimmyJames 12271

Posted
Posted

This whole clever charade by Amazon is gonna backfire. They just used a whole bunch of cities and states, got their data and then pissed them off because the end result was now revealed to be inevitable. It was always just what DC and New York area sucker was gonna offer them to buttfuck them the most. 1.5 billion? Spin that one. 

Not a good long term strategy by Bezos. In fact they really fucked this up. Regulations coming. 

Oh well. 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


Football ... Basketball ... Baseball ... Other Sports ... Futbol ... 🤫995🤫 ... Gambling ... Movies & TV ... Music ... Hobbies ... Lulz ... Food & Travel ... Daily Texan ... Business and Markets ... Cloak Room ... Help ... For Sale ... Board Discussion ... Subscribe!... Donate!... Advertise... COOKIE MONSTER!

×
×
  • Create New...