Amazon HQ2 Will Cost Taxpayers at Least $4.6 Billion, More Than Twice What the Company Claimed, New Study Shows

https://www1.nyc.gov/office-of-the-mayor/news/552-18/mayor-de-blasio-governor-cuomo-amazon-selects-long-island-city-new-corporate

In 2019, Amazon will occupy up to 500,000 square feet at One Court Square while working to construct four million square feet of commercial space on Long Island City’s waterfront over the next 10 years, with expansion opportunities for up to 8 million square feet over the next 15 years. Through a $3.6 billion total investment, Amazon will draw from the diverse and talented workforce in New York State to fill at least 25,000 new jobs by 2029 and up to 40,000 jobs by 2034 with an average salary of $150,000. The construction is expected to create an average of 1300 direct construction jobs annually through 2033. Overall, the project is estimated to create more than 107,000 total direct and indirect jobs and over $14 billion in new tax revenue for the State and a net of $13.5 billion in City tax revenue. The project provides a 9:1 return on investment.

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