U.S. cities are offering Amazon at least as much as $7 billion in tax breaks ahead of a today’s deadline to bid on the tech giant’s second headquarters.
Reuters reports Amazon has won promises from elected officials eager for the $5 billion-plus investment and up to 50,000 jobs that will come with Amazon HQ2.
New Jersey proposed $7 billion in potential credits against state and city taxes if the company locates in Newark and sticks to hiring commitments, according to the governor’s office.
Across the country, California is offering some $300 million in incentives over several years and other benefits, the state’s governor said in an Oct. 11 letter to Amazon’s CEO Jeff Bezos. Dozens of cities and states, including Baton Rouge, have expressed interest in HQ2. Credit ratings and research company Moody’s has ranked Austin as the most likely to win based on its labor pool, costs of doing business and quality of life, among other criteria. Austin is also the headquarters of Whole Foods Market, which Amazon recently acquired.
Amazon has said it will announce a decision for its second campus, in addition to its Seattle headquarters, next year.
