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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
by 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.