“Most of the 25,000 jobs that were supposed to come to Amazon’s HQ2 in New York City will now go elsewhere, now that Amazon has announced it’s backing out of its agreement with the city,” Eugene Kim reports for CNBC. “Amazon’s spokesperson told CNBC on Thursday that the bulk of the 25,000 jobs that the company had promised to create in New York City for HQ2 will now go to other corporate offices and tech hubs owned by Amazon across 17 North American cities, including Boston, San Francisco and Vancouver.”
MacDailyNews Take: Just like baseball, football, basketball, and hockey. Boston beats NY, yet again. 🙂
“The loss of most of the new jobs is a major setback for New York as Amazon’s new headquarters and its additional workforce were expected to further accelerate the city’s economic growth, especially in certain sectors like technology and advertising,” Kim reports. “New York Governor Andrew Cuomo previously said the deal would bring in approximately $27 billion in revenue in exchange for the roughly $3 billion incentive package.”
“Amazon announced on Thursday in a stunning reversal that it would cancel its plan for a second headquarters in New York City, following mounting opposition from local leaders and policymakers,” Kim reports. “‘Amazon’s decision to withdraw its New York City HQ2 is a setback for the city that illustrates politics and anti-business sentiment can derail economic development despite competitive strengths,’ said Nick Samuels, VP at Moody’s Investors Service.”
Read more in the full article here.
MacDailyNews Take: Shades of Apple’s Athenry data center (except Amazon nipped the hijinx in the bud after 3 months instead of Apple’s 3 years).
The whims of the few outweigh the needs of the many. — MacDailyNews, December 5, 2017
The moral of the story: What Amazon giveth, Amazon can easily taketh away.
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