5 ms·
One part I don't see people is explaining: are the NYC tax breaks amazon is getting out of line for the revenue they're bringing in? Cuomo is touting a 9-to-1 a
by quxbar 8y ago
One part I don't see people is explaining: are the NYC tax breaks amazon is getting out of line for the revenue they're bringing in? Cuomo is touting a 9-to-1 and that seems like a pretty sweet deal even if they're somewhat fudging the numbers.
- moate 8y agoOut of line with previous deals. Look at what wasn't offered to Google when they bought/built their office
- quxbar 8y agoGoogle is one data point, I'm asking what the average/distribution is. Do banks get more? I can find some examples that point to this being normal: https://subsidytracker.goodjobsfirst.org/subsidy-tracker/ny-chase-manhattan-now-jpmorgan-chase https://subsidytracker.goodjobsfirst.org/subsidy-tracker/ny-...
- vdnkh 8y agoThat's a great source, and directly counters the "nobody else got subsidies" argument: Subsidies for NYS: Subsidy Total: $34,026,482,575 Number of Awards: 127,154 Earliest year of data: 1980
- zjaffee 8y agoThis is an unfair comparison, Amazon would've put HQ2 in Manhattan if they didn't get the tax deal. The tax break is specifically for bringing jobs to long island city.
- yanniesaurus 8y agoEcho your question. I would note that it seems that the tax breaks weren't negotiated as some special package for Amazon specifically -- actually, most of the incentives (or about $1.5B) are coming from existing programs run by NY state and NYC that reward companies based on square footage of office space created and number of jobs created. So, arguably, Amazon would have gotten those incentives anyway even if they had moved to NYC without all the fanfare of the HQ2 process. https://www.cnbc.com/2018/11/13/amazon-tax-incentives-in-new-york-city-virginia-and-nashville.html https://www.cnbc.com/2018/11/13/amazon-tax-incentives-in-new...