4 ms·

So why did NYC bother to compete for HQ2?

• ben509 8y ago
  Amazon being there would mean growth; whether it's greater growth than local businesses is hard to say. But mostly, it's obvious growth that looks good for politicians who can say, "look, I brought jobs!" People notice it when a high profile company arrives whereas if your local chain expands, that's not even a news story. Much of the political aspect of economics is due to the relative visibility of various events in the media.
  • anth_anm 8y ago
    It's because then politicians can run on "I BROUGHT AMAZON HERE! JOBS! GREAT JOBS!".
• Anarcissie 8y ago
  The main driver of politics in NYC is real estate. Long Island City has already been undergoing a gentrification blitzkrieg, but adding Amazon HQ2 to the mix would yield fantastic profits to those of the rich who were in on it -- that is, those who had gotten the memo several years ago and taken up a good real estate position in the area. Plus, the irony of taking the proles' money in taxes to drive them out of their neighborhood homes and businesses must have offered an icing of sadistic pleasure to the mighty cake of profit. What I am wondering is how the deal was stopped. Usually, big real estate projects steamroll all resistance. There's money to be made! (Not by you.)
• Wowfunhappy 8y ago
  We shouldn't have. That's why I'm not bothered to see Amazon pulling out. This is New York City. There will be other businesses—ones that don't need to be lured by special deals.
  • jfnixon 8y ago
    Turns out there were no special deals from NYC. All Amazon got in terms of tax rebates was standard stuff, available to anyone. It was big for Amazon because the headcount was big. https://www.nytimes.com/2018/11/13/business/economy/amazon-hq2-va-long-island-city-incentives.html https://www.nytimes.com/2018/11/13/business/economy/amazon-h...