Posted on 10/19/2017 10:27:39 AM PDT by SeekAndFind
U.S. cities are offering Amazon.com Inc (AMZN.O) at least as much as $7 billion in tax breaks ahead of a Thursday deadline as they compete to house its second headquarters.
The world’s largest online retailer has won promises from elected officials who are eager for the $5 billion-plus investment and up to 50,000 jobs that will come with “Amazon HQ2.”
New Jersey proposed $7 billion in potential credits against state and city taxes if Amazon locates in Newark and sticks to hiring commitments, according to a Monday news release from the governor’s office.
Across the Hudson River, New York City made a proposal without incentives special for Amazon, though the state is expected to offer some, a spokesman for the city’s economic development corporation said on Wednesday.
And across the country, California is offering some $300 million in incentives over several years and other benefits, the governor said in an Oct. 11 letter to Amazon’s Chief Executive Jeff Bezos, published online by the Orange County Register.
Dozens of cities and states have expressed interest in HQ2. Credit ratings and research company Moody’s has ranked Austin as the most likely to win based on its labor pool, costs of doing business and quality of life, among other criteria.
Austin is also the headquarters of Whole Foods Market, which Amazon recently acquired.
(Excerpt) Read more at reuters.com ...
Texas...somewhere in Texas.
You’re right. All the tax breaks negate or exceed any benefits.
A discrimination suit should be filed by small business owners and also the people living in that city or county.
Imagine if the site allows 700 employees. What is 7 billion dollars? That is 10 MILLION per employee!
Assume that the most the site is expected to last before moving again is 10 years.
That’s 1 Million per employee! for 10 years!!
Assume high paid employees at $150,000 salary each, time two for the corporation cost = $300,000 cost, that means that we are PAYING amazon $700,000 per employee, for 10 years!!
How is this not an illegal bribe? where is Bernie Sanders and all the other social warriors? where is antifa? Hypocrites, all of them.
This is theft from the middle class that pays taxes in that county and redistribution of the stolen amount to one of the richest companies in the world.
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