Amazon HQ2 could bring housing boom to Northern Virginia

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More specifically, the locations are Long Island City in New York City's Queens borough and National Landing (a rebranded name for the Crystal City neighborhood) in Arlington, Virginia.

But not everyone in NY and Virginia were happy about being chosen to become the spot for the new Amazon headquarter locations. "And we made it clear to Amazon those jobs need to go to everyday New Yorkers".

Virginia Governor Ralph Northam said Amazon's investment was a "big win" which would bring "investments in our education and transportation infrastructure that will bolster the features that make Virginia so attractive: a strong and talented workforce, a stable and competitive business climate, and a world-class higher education system".

Web giant Amazon is set to announce its new headquarters in New York City and Northern Virginia.

However, Amazon eventually chose to split the jobs and investment between two different locations. Other state and local governments offered a lot more, including at least $8.5 billion on behalf of Montgomery County, Maryland, and $7 billion for Newark, New Jersey.

- More than $230 million in investment. The company had originally said it would spend more than $5bn and add up to 50,000 workers at one location.

The funds, which have to be appropriated by the Virginia General Assembly, are created to decrease slightly in value if more than 10% of the new hires are focused on federal government contracts. Economists such as James Parrott, however, said the study hinges on a big assumption: that Amazon would have gone somewhere else without the $3 billion in sweeteners.

Virginia pledged a few other goodies, such as a commitment to "regulatory flexibility" in order to allow new technologies to operate in the area, as well as confidentiality for "all materials, communications, data, and information related to this Memorandum". "We are pleased to have attracted global companies that contribute to our innovation economy, supported by the Commonwealth's world class colleges, universities and top research facilities and will continue to focus on attracting good-paying jobs and new employers to every region of the Commonwealth".

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There was no reference in the memoranda to collaboration on preserving housing affordability, hiring locally, or working with local educational institutions. At Hartsfield-Jackson Atlanta International Airport, Amazon employees would have enjoyed free parking and exclusive use of a new airport lounge.

A coalition of nonprofit groups warned that Amazon's arrival will likely worsen housing affordability for many lower-income workers in the two cities.

The combined offer from New York State and New York City is considerably richer than the one offered by Virginia, and does not require approval by any local or state legislative body.

The company will receive up to $550 million Dollars (roughly $728.52 million CAD) as a workforce cash grant from the Commonwealth of Virginia, as well as an additional $23 million USD (roughly $30.47 million CAD) cash grant from the City of Arlington over 15 years based on incremental growth forecasts.

NY put up billions in incentives, while Arlington, just outside Washington, D.C., offered hundreds of millions.

"The New York state Constitution-actually clearly states that we're not allowed to give any corporate subsidies or money to the private sector or business or corporation", Kim said. "So I don't have an idea about how they put together their transaction".

What did NY have to offer? The agreement also includes requirements for participation by minority and women-owned businesses in the construction process.

"Amazon demanded subsidies and terms from cities all over the country, demanded those terms be kept secret, then reneged on its promise to locate thousands of jobs", Barry Lynn, executive director of the Open Markets Institute, said in a statement.

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