New Amazon HQ split between New York, Washington suburbs

This is where Amazon will build its two new headquarters

"This is a big win for Virginia - I'm proud Amazon recognizes the tremendous assets the Commonwealth has to offer and plans to deepen its roots here", declared Virginia Governor Ralph Northam in a statement.

"The first effect we will see is an increase in inventory, more homes on the market and more options for buyers", Fairweather said. And the two areas combined are providing over $2 billion in subsidies to one of the world's richest companies - a bounty that many analysts say probably wasn't necessary to sway Amazon.

Buried in the 32-page, $1.5 billion agreement between New York's various economic development agencies and Amazon is a promise by the city to help the company secure rights to a helipad on, "or in reasonable proximity to", the company's new site in Long Island City.

The new term was part of the area's proposal to Amazon, according to Kelly Rindfusz, communications director for Arlington Economic Development. No tenants will be forced out as a result of Amazon moving in.

Amazon's decision will bring to Arlington, Virginia, and the Long Island City section of NY a combined 50,000 jobs and $5 billion in investment over the next two decades.

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When the tech giant starts recruiting tens of thousands of workers in the cities next year, Wall Street and Capitol Hill will feel the burn. (TFC has scrapped the residential portion of its plans for the site, which called for 1,000 rental apartments.) Officials haven't revealed who will develop the remainder of Amazon's office campus.

Arlington county is also promising to give Amazon a share of its hotel tax, which it said would add up to $23 million over 15 years if Amazon meets its predicted job-creation targets. This summer, he announced a new philanthropic fund that will create a network of tuition-free preschools.

NY 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.

The census tract where Amazon is moving has a poverty rate of 10 percent, half that for all of New York City, and the household income of $130,000 a year is double the city median.

Still, the benefits of mass transit depend on NY and Washington maintaining and improving their systems - a severe challenge in recent years amid breakdowns, deteriorating tracks and rising expenses in both transportation systems.

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Amazon's arrival could end up "essentially bailing out developers that went ahead despite the excess supply", he said. "I'm sick of hearing there isn't enough money for new schools, parks, transportation & affordable housing".

Amazon appears to have chosen NY and the DC metro area because they're already superstar cities and generally pro-development, especially when it came to the immediate corporate campus selected.

In a press release, the organization suggested that some of the subsidies going to Amazon have not been disclosed by the company. And the city and state will help arrange a private helipad for the company nearby.

Amazon's move across the Potomac River from the nation's capital will put heightened pressure on the federal government's efforts to recruit tech-savvy employees. The headquarters will occupy between 4-8 million square feet of office space.

One close watcher of Amazon's HQ2 process and the broader landscape of corporate-location strategy said the mounting scrutiny around incentives has the potential to weigh on the company's brand. No mention was made of Amazon at the time. Google plans to double its NY workforce over the next decade to more than 14,000 employees, Chief Financial Officer Ruth Porat, said on Monday.

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The Toronto bid - which also included Mississauga, Brampton and communities in York, Durham and Halton regions - made the 20-city short list earlier this year, but Amazon ultimately chose to locate its new operations in New York City and Crystal City, Va., in the United States. That law created a program to encourage development in so-called opportunity zones, including parts of Long Island City. "I believe if national reporters with Amazon relationships were saying this, it was true. The way it's going now is not good".

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