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1) $500M of the deal is cash. That can be spent on other things. Many other companies are investing large sums in NYC without cash or tax incentives. Why give a
by ciamac 8y ago
1) $500M of the deal is cash. That can be spent on other things. Many other companies are investing large sums in NYC without cash or tax incentives. Why give amazon special treatment?
2) It was a back room deal in the sense that it was negotiated in private without input from stakeholders such as city residents.
With respect to your math, the goal of government is not to maximize tax revenue, but to provide benefits for residents. Moreover, even if it was, the proper comparison is to alternative development plans and not to zero. If the goal is to redevelop LIC, why not have a competitive bidding process to redevelop that area? Many companies and developers would be interested and would bid against each other. When you negotiate with one party in secret you lose all your leverage.
I don't understand why any deal is necessary. Google, Facebook, etc. all seem to be doing fine in NYC without special treatment.
This is not about being against Amazon or tech, it is about being again crony capitalism.
--NYC Resident
- temuze 8y ago1) The $505M is conditional if they bring 40k jobs. If it's only 25k jobs, that turns into $325M. This money is meant for construction costs. [1] 2) Who cares? Do we need a popular referendum for every business moving to New York? That's insane. There's a reason why we're a republic and not a direct democracy. > With respect to your math, the goal of government is not to maximize tax revenue, but to provide benefits for residents. That remaining tax money would improve infrastructure around LIC. Also, as someone who used to live in LIC, who gives a shit? It's mostly yuppies and luxury housing until you get to Court Square. Sure, you have Queensbridge up north, but if public housing can survive in Manhattan, it'll survive in LIC. This is as low impact as you can get. - Also a NYC resident [1] http://gothamist.com/2018/11/13/amazon_queens_nyc_subsidies.php http://gothamist.com/2018/11/13/amazon_queens_nyc_subsidies....
- ciamac 8y agoWell, we can agree to disagree, but I think there are many reasonable arguments against this deal that have nothing to do with the RWDSU and everything to do with a lack of transparency and special treatment for a large powerful corporation. Wouldn't it be better to have a competitive process with multiple bidders to redevelop LIC? Let's see what the market clearing price would be. I'd bet it would not involve subsidies.
- vonmoltke 8y ago> Wouldn't it be better to have a competitive process with multiple bidders to redevelop LIC? Let's see what the market clearing price would be. I'd bet it would not involve subsidies. When are you starting the campaign to cancel the REAP and ICAP programs?
- anth_anm 8y ago> crony capitalism It's just capitalism.
- pteredactyl 8y agoNot sure I follow. But when you say 'capitalism' do you mean the free exchange of goods and services? If so, did you buy the computer you used to write your comment? Or the food you ate this morning for breakfast?
- anth_anm 8y agoMy point is that this isn't the free market malfunctioning. This is the entirely logical outcome of capitalism. What you (and I) are asking for is more regulation to prevent these outcomes.
- pteredactyl 8y agoI am not asking for more regulation. Regulation often creates barrier to entry for the little guys. Good luck.