Amazon HQ2 Will Cost Taxpayers at Least $4.6 Billion, More Than Twice What the Company Claimed, New Study Shows
Cohen, Rachel M.; Dayen, Davidhttp://theintercept.com/2018/11/15/amazon-hq2-long-island-city-virginia-subsidies/
Publisher: The Intercept
Date Written: 15/11/2018
Year Published: 2018
Resource Type: Article
Cx Number: CX23089
In addition to the billions in local government subsidies Amazon stands to gain from Federal Opportunity Zones. Researchers who have studied opportunity zones find that these tax schemes rarely ever help cities, and often financially cripple them.
Amazon's announcement this week that it will open its new headquarters in New York City and northern Virginia came with the mind-boggling revelation that the corporate giant will rake in $2.1 billion in local government subsidies. But an analysis by the nation's leading tracker of corporate subsidies finds that the government handouts will actually amount to at least $4.6 billion.