- Amazon is reportedly seeking a new space in New York City, just five months after it canceled its HQ2 plans.
- In November 2018, the e-commerce giant chose to build its new headquarters in Long Island City, Queens, but the move was met with backlash from New York locals and politicians.
- Governor Cuomo was in favour of the HQ2 plans, estimating it could have created over 107,000 total jobs and $US27.5 billion in city and state tax revenue over the next 25 years.
- Watch the video above to find out why Amazon wasn’t “tough” enough to win over New York City.
- Visit Business Insider’s homepage for more stories.
Following is a transcript of the video.
Amazon is cancelling HQ2 in New York City.
The company announced in November that it would build a new headquarters in New York.
Amazon claimed it would provide “25,000 full-time high-paying jobs,” as well as a $US2.5 billion investment in New York’s Long Island City neighbourhood.
New York Gov. Andrew Cuomo and NYC Mayor Bill de Blasio were supportive of Amazon coming to the city.
But local politicians like Rep. Alexandria Ocasio-Cortez panned the deal.
“Amazon is a billion-dollar company. The idea that it will receive hundreds of millions of dollars in tax breaks at a time when our subway is crumbling and our communities need MORE investment, not less, is extremely concerning to residents here.”
“We’ve been getting calls and outreach from Queens residents all day about this.
The community’s response? Outrage.”
Amazon would have received an estimated $US3 billion in tax incentives.
The company cited local opposition as a reason for cancelling its New York plans.
Governor Cuomo’s office estimated HQ2 could have created over 107,000 total jobs, as well as $US27.5 billion in city and state tax revenue over the next 25 years.
Cuomo said the opposing politicians “should be held accountable for this lost economic opportunity.”
Mayor de Blasio criticised Amazon’s decision in a statement: “You have to be tough to make it in New York City,” and “Instead of working with the community, Amazon threw away that opportunity.”
Amazon said it won’t reopen its search for another HQ2 location at this time.
However, the company will move forward with its plans to build a headquarters in Northern Virginia, as well as an operations center in Nashville.
EDITOR’S NOTE: This video was originally published on February 15, 2019.
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