Commercial Real Estate’s Take on Amazon’s HQ2 Decision
Several cities and regions in North Carolina and South Carolina submitted responses for one of the largest economic development projects in history. The National Association of Industrial and Office Properties (NAOIP) recently posted a viewpoint article about Amazon’s decision to select New York and Virginia as the locations for its HQ2.
The following is from NAOIP:
After more than a year of speculation and fierce competition, Amazon has officially selected the location for its second headquarters – or, as it turned out, two locations for headquarters in Long Island City in New York City, and National Landing in Northern Virginia.
Amazon describes Long Island City, a neighborhood in Queens, as a “mixed-use community where arts and industry intersect” and cited the access to mass transit and local airports among the area’s attractions. Over the next 10 years, Amazon anticipates bringing 25,000 jobs to Long Island City with an average salary of $150,000 each (along with accompanying tax revenue). For its part, New York offered Amazon incentives of more than $1.5 billion, with some contingent on the results of Amazon’s job growth and salaries.
