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HQ2: NY vs Virginia incentives

Chalanachithram.com DB » New TF Industry Related » Archive through November 16, 2018 » HQ2: NY vs Virginia incentives « Previous Next »
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Baatasari
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Username: Baatasari

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Posted on Wednesday, November 14, 2018 - 03:27 pm:       

evari desaniki vaaru incentives ichukuntunaru kada.. :D how can they NOT attract Bezos n help chota biz..

mana desam lo Adani's, Ambani's etc biz houses ki concessions ichinatlu ga..

its more about ego massaging than actual $ involved emo..
brahma satyam jagan-mithyä jivo brahmaiva näparah
 

Emc2
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Posted on Wednesday, November 14, 2018 - 02:12 pm:       

not only HQ2, also they are setting up aws with 1500 jobs . unna office ni expand chesthunnaru with 10 floors building

It's ok

 

Awesomedber
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Posted on Wednesday, November 14, 2018 - 02:12 pm:       

Super kadaa.. Amazon vaadu cities ni kudaa pindesaadu kadaa :D
 

Guriginja
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Posted on Wednesday, November 14, 2018 - 02:07 pm:       

teppelo amazon vasthe vasthadu lekunte ledhu....oka range varaku ok but ee araachakam aapali all states...business penchukovamnate chesukuntadu lekunte ledhu...nthakumundu silicon valley lo, detroit lo etc yentha yentha iccharu...it just doesn't make sense....aa incentives etc...small businesses ki offer chesthe the grwoth will be real.
 

Jai_ycp
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Posted on Wednesday, November 14, 2018 - 09:54 am:       

good Job VA for offering less. commute is anyhow a problem in metropolitan area.new homes in clarksburg, germantown are 40-50K cheaper than in Ashburn VA.
 

Bushu
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Posted on Wednesday, November 14, 2018 - 09:50 am:       

this is the most elaborate, most cunning hoax Amazon pulled on its rivals.

everyone of the cities that bid shared super sensitive data with amazon on their growth plans, demographics, population changes etc. Easy for amazon to plan their warehouses and distribution strategy .. going forward for the next three years.

Brilliant!!!!
 

Sannayi_nokkulu
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Posted on Wednesday, November 14, 2018 - 09:47 am:       

Getmantown and clarksberg are not cheaper either compared tp VA little chepaer I guess
sachipotava , avineethi ga batukutava okkate option ante alochinchakunda chachipotaa ane type cbn - OT
 

Sannayi_nokkulu
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Posted on Wednesday, November 14, 2018 - 09:44 am:       


Saarang:

Maryland suburbs significantly cheaper than Nova?


yes but many ppl dont prefer.....commute ki problem, ofcourse aa problem Va ki kuda undi. For example MD lo germantown, clarksberg unnayi but too far for DC and should take train. Baltimore has good jobs but living the other side not sure housing have resale, columbia and ellicott city are desi dense areas, ellicott city I know its already crowded. Both Columbia and Ellicott are not cheaper they are bit cheaper than VA as far as I know
sachipotava , avineethi ga batukutava okkate option ante alochinchakunda chachipotaa ane type cbn - OT
 

Saarang
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Posted on Wednesday, November 14, 2018 - 09:38 am:       


Sannayi_nokkulu:

aa maryland lo emundi tokka edo DC and VA pakkana undi kabatti ala nadustundi




are Maryland suburbs significantly cheaper than Nova?
 

Sannayi_nokkulu
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Posted on Wednesday, November 14, 2018 - 09:36 am:       


Saarang:

Maryland


aa maryland lo emundi tokka edo DC and VA pakkana undi kabatti ala nadustundi
sachipotava , avineethi ga batukutava okkate option ante alochinchakunda chachipotaa ane type cbn - OT
 

Saarang
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Posted on Wednesday, November 14, 2018 - 09:36 am:       

New York has a history of offering generous incentive packages, including a 2007 deal for subsidized electricity to keep an Alcoa plant that was worth $5.6 billion over 30 years, according to Good Jobs First, which tracks corporate subsidies.

On a per-job basis, New York’s offer to Amazon is about typical for the state but well above the national average for such deals, said Timothy J. Bartik, an economist for the Upjohn Institute in Kalamazoo, Mich., who has studied tax incentives.

"New York's following its usual practices," Mr. Bartik said. "It hands out a lot of hefty incentives, a lot of long-term incentives."

Gov. Andrew Cuomo defended the deal, arguing that New York has to offer incentives because of its comparatively high taxes. At 6.5 percent, New York's corporate income-tax rate is only modestly higher than Virginia's 6 percent, according to the Tax Foundation. But other business and individual taxes are higher in New York.

"It’s not a level playing field to begin with'" Mr. Cuomo said in an interview Tuesday. "All things being equal, if we do nothing, they're going to Texas."
 

Saarang
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Posted on Wednesday, November 14, 2018 - 09:33 am:       

https://www.nytimes.com/2018/11/13/business/economy/amazon-h q2-va-long-island-city-incentives.html

Indeed, in selecting New York and Virginia for its new locations, Amazon turned down seemingly richer offers just next door. Maryland and New Jersey each offered multi billion-dollar incentive packages that dwarfed the ones Amazon accepted.

"An additional $7.5 billion in subsidies wasn't enough to get Amazon to move across the river," said Michael Farren, an economist at the Mercatus Center, a libertarian think tank, referring to the difference between Maryland’s offer of $8.5 billion and Virginia’s of less than $1 billion. "That just says that subsidies were never what mattered in the first place."

In its announcement on Tuesday, Amazon said that "attracting top talent was the leading driver" of its decision. Incentives were "one factor," it said, but a secondary one.

New York's incentive package is much larger than Virginia's. Amazon promised to create about 25,000 jobs at each location, but New York offered twice as much as Virginia did.

"That's the first thing we said," said Maria Doulis, vice president of the nonpartisan Citizens Budget Commission, which has offices in New York City and Albany. "We're like, 'Wait, you're splitting this down the middle — why does it look like we're paying so much?' "

New York promised Amazon $1.525 billion in incentives, including $1.2 billion over the next 10 years as part of the state's Excelsior tax credit. The state also pledged to help Amazon with infrastructure upgrades, job-training programs and even assistance "securing access to a helipad" — none of which came with a price tag.

Virginia promised Amazon an incentive package worth $573 million, including $550 million in cash grants — $22,000 per job. The state also pledged $250 million to help Virginia Tech build a campus in Alexandria, near the Amazon site in Arlington, offering degrees in computer science and software engineering. (Virginia, too, offered to help the company get a helipad.)

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