Buyer's Remorse? Amazon Could be Getting Cold Feet in NY

Buyer's Remorse? Amazon Could be Getting Cold Feet in NY

Buyer's Remorse? Amazon Could be Getting Cold Feet in NY

"We're focused on engaging with our new neighbors - small business owners, educators, and community leaders", it said.

Amazon.com Inc is exploring alternatives to locating part of its new headquarters in NY in case the plan should fail due to local opposition, a person briefed on the matter told Reuters on Friday.

The Post, which is owned by Amazon founder Jeff Bezos, cited two sources familiar with the company who spoke on condition of anonymity.

In the face of widespread and impassioned opposition from local politicians, progressive members of Congress, and ordinary New Yorkers, Amazon is reportedly having second thoughts about its plan to locate a second headquarters site in Long Island City.

Cuomo, de Blasio and Gianaris and another critic of the deal did not immediately respond to Newsweek's request for comment. The company also said that it will "separately apply for as-of-right incentives including New York City's Industrial & Commercial Abatement Program (ICAP) and New York City's Relocation and Employment Assistance Program (REAP)".

Unlike in Virginia and Tennessee, where legislators emphatically approved and incentivized the building of Amazon HQ with millions of dollars in project investments, a group of NY legislators and unions are banding together in disapproval. Amazon has said it will turn its $2.5 billion investment into an incremental tax revenue of more than $10 billion over the next 20 years.

The source said the article could be a trial balloon for either side: It could be the NY community sending a signal to Amazon founder and CEO Jeff Bezos, or it could be Bezos testing the waters. Michael Gianaris, a vocal Amazon critic, to a state board where he might nix the deal. He came out swinging against the State Senate today, calling his colleagues out for "governmental malpractice".

Amazon is likely threatening this pullout to concentrate minds among NY politicians, in an effort to pin blame on them for "losing" Amazon.

Of course, Amazon has heavily researched other cities and may still be in conversation with some of them for potential future sites. "Whether it's building a pipeline of local jobs through workforce training or funding computer science classes for thousands of New York City students, we are working hard to demonstrate what kind of neighbor we will be", said Amazon spokesman Jodi Seth.

Basically, the whole thing could be summed up as "nice Amazon deal, New York".

One reason for the big difference in whether Amazon is welcomed or not lies in the nature of the locations where the new headquarters would be.

Despite a splashy announcement that it would set up shop in Long Island City, Queens and create 25,000 jobs (as well as in Arlington, Virginia), it's not too late for Amazon to change course. The county board of supervisors has expressed strong support for the Amazon headquarters and is planning to pass a local incentive package in March.

Amazon may also have a Plan B. One of the twenty finalists for HQ2 was Newark, New Jersey, just across the border from New York City. "It's setting a bad precedent", Carlo Scissura, president and CEO, New York Building Congress, told CNN Business on Friday.

Sure, Amazon shimmied into Virginia and got everything it wanted.

Related news



[an error occurred while processing the directive]