Amazon Wanted $1 Billion In Additional Incentives For HQ2
In 2017, Amazon set a goal to secure an additional $1 billion for other real-estate projects, according to The Wall Street Journal.
Amazon began searching for a second headquarters in 2017 and the billions in economic incentives that would come with it. Jeff Bezos and other top execs on the company's "S-Team," set the goal after experiencing high capital investment costs that year.
In 2017, the company reported that its capital expenditure costs increased 50 percent to $10 billion and wages amounted to $50 billion. The incentives the company was seeking came in the form of benefits and tax credits that were distributed to companies seeking to expand.
“Like many other companies, we are eligible to access incentive programs created and regulated by cities and states to attract new investors—as they know that these investments pay a long-term dividend in the form of jobs, new economic opportunity, and incremental tax revenue,” the company said. “The vast majority of these incentives are statutory and post-performance—Amazon is eligible only after having created and maintained a certain number of jobs within the community.”
In 2017, Amazon set a goal to secure an additional $1 billion for other real-estate projects.