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Has anyone seen specifics on how they'll be held accountable? They've made promises for x jobs with $y average salaries, but if they don't meet that, then what?

Has anyone seen specifics on how they'll be held accountable? They've made promises for x jobs with $y average salaries, but if they don't meet that, then what? https://ny.curbed.com/2018/11/16/18098589/amazon-hq2-nyc-queens-long-island-city-explained https://ny.curbed.com/2018/11/16/18098589/amazon-hq2-nyc-que... suggests that nearly $1.3 billion is not tied to any amount of job creation at all.

jhall1468 8y ago
That article is an example of people not understanding what this deal is. Amazon is not receiving $3B in public dollars, they are receiving $3B in tax breaks. They are shifting a small % of that via PILOT and some other funding Amazon has agreed to. I don't understand how people think this is in any way a bad deal for NY.
- rhizome 8y ago
  Tax breaks have a value, some might even say a cost.
coredog64 8y ago
The NYC REAP is per employee[0]. Zero employees, zero dollars. ICAP is property tax abatement and requires spending 30-40% of the assessed value of the property[1]. Long Island City might be cheap in terms of NYC real estate, but it’s not particularly cheap overall. I can’t imagine they won’t spend more than the ICAP portion. [0]https://www1.nyc.gov/site/finance/benefits/business-reap.page https://www1.nyc.gov/site/finance/benefits/business-reap.pag... [1]https://www1.nyc.gov/site/finance/benefits/benefits-industrial-and-commercial-abatement-program-icap.page https://www1.nyc.gov/site/finance/benefits/benefits-industri...
maria_ 8y ago
There is no agency, governmental or private, in existence that subsequently measures or keeps tracks of these "job creation" promises. And in the very unlikely event that their broken promises do come to light, it will be explained away in the usual manner as to deflect (e.g. circumstances change, etc.). Just remember one thing: At the end of the day Amazon is a private enterprise and it can and will do whatever they want and are accountable to no one.

jhall1468 8y ago

That article is an example of people not understanding what this deal is. Amazon is not receiving $3B in public dollars, they are receiving $3B in tax breaks. They are shifting a small % of that via PILOT and some other funding Amazon has agreed to. I don't understand how people think this is in any way a bad deal for NY.

rhizome 8y ago
Tax breaks have a value, some might even say a cost.

coredog64 8y ago

The NYC REAP is per employee[0]. Zero employees, zero dollars. ICAP is property tax abatement and requires spending 30-40% of the assessed value of the property[1]. Long Island City might be cheap in terms of NYC real estate, but it’s not particularly cheap overall. I can’t imagine they won’t spend more than the ICAP portion. [0]https://www1.nyc.gov/site/finance/benefits/business-reap.page https://www1.nyc.gov/site/finance/benefits/business-reap.pag... [1]https://www1.nyc.gov/site/finance/benefits/benefits-industrial-and-commercial-abatement-program-icap.page https://www1.nyc.gov/site/finance/benefits/benefits-industri...

maria_ 8y ago

There is no agency, governmental or private, in existence that subsequently measures or keeps tracks of these "job creation" promises. And in the very unlikely event that their broken promises do come to light, it will be explained away in the usual manner as to deflect (e.g. circumstances change, etc.). Just remember one thing: At the end of the day Amazon is a private enterprise and it can and will do whatever they want and are accountable to no one.