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It's New York City, we don't need to give the largest company in the world a huge discount to do business here. It's not like the economic development of NYC is

It's New York City, we don't need to give the largest company in the world a huge discount to do business here. It's not like the economic development of NYC is dependent on Amazon. It's a central hub to so many industries because of its infrastructure, talent, connection to capital markets etc, not because of handing out discounts.

smsm42 8y ago
> we don't need to give the largest company in the world a huge discount to do business here Looks like you do, because now we have - no discount, no business. > It's not like the economic development of NYC is dependent on Amazon Of course, losing several billions of added value and 25K jobs won't kill the economy of the size of New York. Just as shooting oneself in the foot won't kill most healthy people. But keep at it, and sooner or later there would be a surprising development that the health is not what it once was...
- 1986 8y ago
  Amazon is already in New York and their own statement today says they will continue expanding those teams despite not moving forward with HQ2. No discount, still business. "There are currently over 5,000 Amazon employees in Brooklyn, Manhattan, and Staten Island, and we plan to continue growing these teams."
  - smsm42 8y ago
    > No discount, still business Not the business that was conditional on the discount.
- nihonde 8y ago
  NYC generates about 10% of US GDP, already houses Amazon, Google, and every other global player. We have our fingers in everything already. We don’t need to play this kind of needy urban development three-card monty nonsense to continue kicking ass economically all day and night long.
  - smsm42 8y ago
    Again, shooting oneself in the foot by losing 25K jobs won't kill New York. It just would make it a little poorer than it otherwise could be (some people a real lot poorer - talk to some RE developers that bought properly expecting Amazon to move in nearby...) New York doesn't need HQ2, it doesn't need any one particular development at all. But if it starts approaching all of them with this attitude, it gradually will start losing them, one by one, becoming poorer and poorer as they go. Would it kill it? Probably not, Detroit still exists. Is it a smart way to conduct affairs? I guess that's for New Yorkers to decide, if they think losing 25K jobs and billions in future tax income worth sticking it to Bezos - well, they can rejoice.
    - Apocryphon 8y ago
      Amazon’s loss is another company’s gain. There will be more deals and more jobs, you’re acting like this is a recoverable loss when this is not a loss at all but an opportunity for someone else to fill the void, without drastic tax breaks.
Pyxl101 8y ago
New York City wasn't going to give Amazon a special discount. The company qualified for existing incentive programs that are already available to everyone: the Relocation and Employment Assistance Program, and the Industrial & Commercial Abatement Program. https://www.nycedc.com/program/relocation-and-employment-assistance-program https://www.nycedc.com/program/relocation-and-employment-ass... https://www.nycedc.com/program/industrial-commercial-abatement-program https://www.nycedc.com/program/industrial-commercial-abateme... It doesn't make a lot of sense for a city to offer incentive programs and then complain when companies attempt to use them. The city should make up its political mind about what incentive programs are available, and who qualifies for them, as part of the decision about whether to offer such programs. Programs should then be implemented neutrally, in a way that does not play favorites or pick winners and losers. Many other companies have benefited from these programs - the entire point of these programs is to achieve some kind of policy objective by being used. The uproar in this case seems more like political brinkmanship, not any kind of sound economic policy designed to benefit the constituents of the city. These incentive programs were presumably passed in the first place to benefit constituents - that's why they're there, to attract additional investment to areas of the city that otherwise would not receive it. ("The Relocation and Employment Assistance Program (REAP) provides a refundable business tax credit for commercial and industrial businesses relocating to designated areas of New York City and making capital improvements to their space") If people in NYC think that these incentive programs are a bad idea, harmful, inappropriate, or whatever else, then they should direct their anger at their political representatives, and cancel those incentive programs - not direct anger at the companies who take up the offer that the city put forward.

smsm42 8y ago

> we don't need to give the largest company in the world a huge discount to do business here Looks like you do, because now we have - no discount, no business. > It's not like the economic development of NYC is dependent on Amazon Of course, losing several billions of added value and 25K jobs won't kill the economy of the size of New York. Just as shooting oneself in the foot won't kill most healthy people. But keep at it, and sooner or later there would be a surprising development that the health is not what it once was...

1986 8y ago
Amazon is already in New York and their own statement today says they will continue expanding those teams despite not moving forward with HQ2. No discount, still business. "There are currently over 5,000 Amazon employees in Brooklyn, Manhattan, and Staten Island, and we plan to continue growing these teams."
- smsm42 8y ago
  > No discount, still business Not the business that was conditional on the discount.
nihonde 8y ago
NYC generates about 10% of US GDP, already houses Amazon, Google, and every other global player. We have our fingers in everything already. We don’t need to play this kind of needy urban development three-card monty nonsense to continue kicking ass economically all day and night long.
- smsm42 8y ago
  Again, shooting oneself in the foot by losing 25K jobs won't kill New York. It just would make it a little poorer than it otherwise could be (some people a real lot poorer - talk to some RE developers that bought properly expecting Amazon to move in nearby...) New York doesn't need HQ2, it doesn't need any one particular development at all. But if it starts approaching all of them with this attitude, it gradually will start losing them, one by one, becoming poorer and poorer as they go. Would it kill it? Probably not, Detroit still exists. Is it a smart way to conduct affairs? I guess that's for New Yorkers to decide, if they think losing 25K jobs and billions in future tax income worth sticking it to Bezos - well, they can rejoice.
  - Apocryphon 8y ago
    Amazon’s loss is another company’s gain. There will be more deals and more jobs, you’re acting like this is a recoverable loss when this is not a loss at all but an opportunity for someone else to fill the void, without drastic tax breaks.

Pyxl101 8y ago

New York City wasn't going to give Amazon a special discount. The company qualified for existing incentive programs that are already available to everyone: the Relocation and Employment Assistance Program, and the Industrial & Commercial Abatement Program. https://www.nycedc.com/program/relocation-and-employment-assistance-program https://www.nycedc.com/program/relocation-and-employment-ass... https://www.nycedc.com/program/industrial-commercial-abatement-program https://www.nycedc.com/program/industrial-commercial-abateme... It doesn't make a lot of sense for a city to offer incentive programs and then complain when companies attempt to use them. The city should make up its political mind about what incentive programs are available, and who qualifies for them, as part of the decision about whether to offer such programs. Programs should then be implemented neutrally, in a way that does not play favorites or pick winners and losers. Many other companies have benefited from these programs - the entire point of these programs is to achieve some kind of policy objective by being used. The uproar in this case seems more like political brinkmanship, not any kind of sound economic policy designed to benefit the constituents of the city. These incentive programs were presumably passed in the first place to benefit constituents - that's why they're there, to attract additional investment to areas of the city that otherwise would not receive it. ("The Relocation and Employment Assistance Program (REAP) provides a refundable business tax credit for commercial and industrial businesses relocating to designated areas of New York City and making capital improvements to their space") If people in NYC think that these incentive programs are a bad idea, harmful, inappropriate, or whatever else, then they should direct their anger at their political representatives, and cancel those incentive programs - not direct anger at the companies who take up the offer that the city put forward.