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> Virginia paid $750M in subsidies for Amazon HQ2 to bring 2500 high paying jobs in 2023. Wrong. Virginia approved up to $750M in subsidies for Amazon should
by meragrin_ 2y ago
> Virginia paid $750M in subsidies for Amazon HQ2 to bring 2500 high paying jobs in 2023.
Wrong. Virginia approved up to $750M in subsidies for Amazon should Amazon meet the terms.
> What recourse does Virginia have?
All they have to do is abide by the agreement because Amazon has to make the case each year to receive that year's subsidy.
- theturtletalks 2y agoPerson below commented they already went down from 50K jobs promised to 25K and that $750M is still sitting pretty. The terms are also flexible and over 15+ years so they can keep making false promises kicking the can down the road. Not hard to imagine Amazon got a favorable deal concerning the subsidy stipulations due to all the competing bids for HQ2.
- snowwrestler 2y agoThe VA numbers were always based on 25k jobs.
- theturtletalks 2y agoMinimum 25,000 Phase 1 Jobs ($550M allocated) and 12,850 Phase 2 Jobs ($200M allocated)
- ethbr1 2y agoNo need to imagine -- the deal is linked in the WP article. https://d39w7f4ix9f5s9.cloudfront.net/a1/f2/85b7a8db41379e151054ff05e815/commonwealth-of-virginia-agreement.pdf https://d39w7f4ix9f5s9.cloudfront.net/a1/f2/85b7a8db41379e15... From my reading, it seems pretty reasonable. (1) Here's what Virginia and Amazon agree to. (2) Here's how it will be measured. (3) Here are the terms around payments.