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That's the money its spending on its facilities and development. That's not money that goes into the pocket of NYC/NYS. The only money NYC/NYS can get is in income taxes from the extra jobs.
How was Amazon going to put money into the pocket of NYC/NYS? The city and state were providing more than $3 billion in tax subsidies.
Besides, the point was that NYC is not and never will be seen as a city unfriendly to business, and certainly not because one company decided to take its ball and run home.
Quote:
Originally Posted by Chint
I guess you saw the number $1 billion and got excited. So Instead of Amazon's much much much bigger tax income plus NON-unionized Google, we now have Google.
Are you factoring in the $3 billion worth of subsidies into this "much much bigger tax income"?
Quote:
Originally Posted by Chint
Cool story bro. Of course employers this size are two a penny. No doubt National Sawdust Corp. will step in and provide 25,000 jobs right next to Queensbridge Houses. Or Purdue Abbatoirs perhaps.
You write as if New York City is Sandusky, Ohio. The city is and will be fine, and if anything, Amazon should create jobs in places that need them a lot more like Upstate NY.
That is simply NOT true. Trains are NOT empty the other way. You obviously don't use transportation that often.
The majority of them are. Just as an example I am familiar with, please ride the F, B, Q, R, N, A, C trains in the morning Brooklyn-bound in Brooklyn and then look at the opposite side at Manhattan bound trains.
This is pretty common knowledge. Where do you live that you don't know this?
Quote:
Originally Posted by BajanYankee
How was Amazon going to put money into the pocket of NYC/NYS? The city and state were providing more than $3 billion in tax subsidies.
Ok, specifically for mathematically challenged:
25k jobs averaging $150k each is $3.75 billion in income per year
Suppose the city and state combined taxes 10% of that just for simplicity sake that is $375 million in income taxes per year that NYS/NYC gets.
$3 billion/$375mil per year = 8 years for NYS/NYC to totally recoup the incentives just from income taxes alone.
I am not even factoring in property taxes for the HQ, sales taxes, and all the other bells and whistles that these workers are going to spend on. The real figure was that after incentive, NYS/NYC would generate $27 billion in tax revenue from this, over the period that these tax incentives would be in duration. This money probably would have been enough to cover NYC's portion of the build-out of all phases of 2nd ave subway over the years.
How about both? Do you see the picture above? That's the current situation along the 7 line and what riders go through regularly. We have a transit crisis that remains unaddressed, yet there is money for tax incentives but never money for infrastructure. People can't get to work on time as it is now, and we're supposed to have Amazon come here and add thousands of jobs with no improvements to infrastructure? None??
There are already improvements to infrastructure. The signal upgrade to the 7 train was just completed which will add 2 trains per hour capacity. But you conveniently ignore my point that most of the workers will live within walking distance or come from Manhattan where reverse commute trains are empty and can EASILY ABSORB the extra people
We can't just shut down NYC to new business because some trains are packed, are you crazy?
What amazes me is all the people acting like New York City is Dubuque, Iowa or something.
"NYC NEEDED Amazon!!!" "NYC NEEDED those 6 figure jobs!!!"
PLEASE!!!
NYC is already FULL TO BRIM with big businesses and corporations paying six figure jobs.
NYC will be just fine...
This is the point I also made in my last post. This would undoubtedly be devastating news for Rochester or Poughkeepsie, but it's merely a drop in the bucket for a metro area that is home to more Fortune 500 companies than any other U.S. city by a significant margin. We're pretty much in the same boat as Chicago, Atlanta, Boston, Houston, Dallas, Los Angeles and all the countless other cities that weren't selected. It would be much worse if a company with existing operations in NYC picked up and left. But with this announcement, we're really no worse off than every other city in America with the exception of DC.
Yes the same folks who pay $3k for a 1BR in LIC and screaming about being "progressive". How many black friends do these people have, because if they did they would know that blacks as a whole weren't negative towards this product. So their pretense that this was for some larger social good is hypocritical.
Yeah, it's a crazy thing.
On the land that Amazon was going to build on though, I'm sure developers will put up another 10,000 units of residential.
With these so-called "luxury apartments," in order to afford a 1 bedroom $3200/month apartment, a temporary wall will have to be built by the new tenant, and a roommate has to be brought in.
Most of the folks in "luxury apartments" are struggling to afford them on a 70, 80 or 90k salary in NYC.
NYC could've used another 25,000 well paying gigs. It ain't cool that they kicked them to the curb and brushed them off as if they were offering thousands of minimum wage or $15/hour jobs.
Just shocking, really. Where is NYC's business mindset? That is the foundation of the city and what is was built upon--Business. Unreal.
That's right! As much as I like economy growth, but Amazon is not something I like to see in NYC simply because my tax dollar goes into building a helipad for them.
The taxpayers won this time. Handing out obscene corporate welfare to the richest man was ludicrous. Pricing people out of their neighborhood would have been wrongheaded.
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