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Different sources cite varying numbers. Unless you actually read the whole legal documents, we have to rely on the media.
Again you and your very poor logic. Maybe I can simplify this for you:
The Amazon deal: total property taxes = $6B. Amazon gets 1/2 of $6B off their property tax bill, while NYC receives 1/2 of that $6B in property taxes. NYC gains $3B
No Amazon deal = NYC gains $0.
That is the true lost revenue. Only you can somehow argue against gaining $3B versus gaining $0.
Different sources huh? You mean the sources in your head? You got the numbers wrong...let's just move on. HQ2 was a bad deal and that's why the deal died. And yet, Amazon is still hiring and the city is still collecting payroll and income taxes. So stop saying NYC gains $0. Your simple math is just that...simple.
What Amazon is hiring in Manhattan pales in comparison to what they would have hired in LIC. You are talking about several thousand back office positions compared to 25K corporate headquarter jobs.
Where's your proof that they're hiring back office positions? Virginia hasn't seen the 25k corporate jobs yet and it's been more than 2 years. I'm betting that they'll never get to 25k jobs.
Furthermore, Manhattan doesn’t need the extra jobs. Queens particularly the lower income nearby areas need it much more. NYC since Bloomberg has tried to decentralize the city’s commercial areas from Manhattan to the other boroughs. This would have helped in that effort tremendously.
This is is why you shouldn't speak on NYC issues. Who cares where the jobs are at so long as people can hop on the subway and get there? The tax coffers go to the same place whether Amazon is in LIC or The Heights.
Woke liberals I don’t need to tell you are hypocrites. For their business, Amazon and Bezos may be against unionizing because it affects their profit margins but it is hardly a secret that Bezos is very liberal.
Oh yeah? Show the proof that he's liberal.
I don’t claim to know it all but I do know a garbage argument when I see it. Garbage is arguing that losing out on 25K extremely well paying jobs, while revitalizing a derelict abandoned area is somehow a bad thing.
You keep talking like the 25k jobs were guaranteed. Show me a case where an employer moved in to a new area, received billions in incentives, and delivered on the jobs promised. I'll start with a large employer that didn't deliver....
Do you guys actually believe that AOC ended the Amazon deal???? LOL
Nobody wanted that deal except the real estate folks and the politicians (because the real estate folk wanted them to want it).
LIC is certainly not suffering without amazon.
First of all, it wasn’t $3B. It was roughly $1.5B in tax breaks, which would have been quickly offset by the tax revenue NYC would get back from the jobs and economic activity generated by the HQ.
Second, NYC was in a stiff competition with many other cities and states so it had to provide a little incentive, which was actually not even very generous compared with other places that promised much more. As for your statement that a company not needing it. That has nothing to do with business. The guiding principle for all business is to reduce cost while maximizing profits. That’s how successful companies become successful.
Furthermore, Amazon if they had stayed in LIC, would have had long term investments in the area and throughout NYC, that would have far outweigh the initial costs.
NYC wasn’t losing anything. Now without the HQ, there is 0 revenue for NYC to even tax on.
I read $3B in articles, anyway, the point is more that Amazon still expanded in NYC despite the HQ2 story because they need the skill sets, and that's exactly how it should be. Lots of companies in various industries, including Google and JPM, are either headquartered or have major offices in NYC. They all paid to be there, and that's fine.
I get your point about the P&L and everything, but if "competition" was that stiff and it required governmental subsidies to even be viable, then it wasn't the right fit for everyone. If they want to maximize tax cuts, they can to go to FL or somewhere else, but if they want to hire specific talents for the needs of their business, maybe NYC is the place.
Either way, they will keep expanding and that story is over. Since they seem to expand without any governmental subsidies, I will assume that the business need is there and didn't disappear.
To be fair, the article says "The state will reduce the tax credits authorized for the project to $80 million from $2.85 billion." so if we transpose that to the Amazon case, maybe the $3B would have been scaled down.
Do you guys actually believe that AOC ended the Amazon deal???? LOL
Quote:
Originally Posted by foodyum
Nobody wanted that deal except the real estate folks and the politicians (because the real estate folk wanted them to want it).
LIC is certainly not suffering without amazon.
The "deal" was nixed when the city council appointed a member to head a committee that Amazon would need to go through to proceed with construction and tax credits.
No one person ended the deal but certain politicians used it as an opportunity to build their brand and power by fooling their poor and ignorant constituents.
Everybody but the poor and ignorant rubes and certain political elements wanted that deal.
The "deal" was nixed when the city council appointed a member to head a committee that Amazon would need to go through to proceed with construction and tax credits.
No one person ended the deal but certain politicians used it as an opportunity to build their brand and power by fooling their poor and ignorant constituents.
Everybody but the poor and ignorant rubes and certain political elements wanted that deal.
That is a
I thought it was a bad deal and I am neither poor nor ignorant. Neither is anyone I know who didn’t think it was a good deal and didn’t want it. Most LIC residents were against it unless they saw a profit from a real estate gain. That is very much how I witnessed it when speaking to people at the time, and it was the big topic of conversation. The politicians were painting a different picture but almost no one I spoke to personally was for it.
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