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The actual terms of the deal is $22k subsidy per job. At the time of the deal the average salary for those jobs had to be $150k. That average salary requirement
by tssva 3y ago
The actual terms of the deal is $22k subsidy per job. At the time of the deal the average salary for those jobs had to be $150k. That average salary requirement goes up each year. Last year it was $157k and next year $159k. The jobs also have to last 5 years in order for Amazon to get the payout. At those terms the state income tax in the salaries will more than pay for the subsidy over 5 years. That doesn’t include the additional tax revenue from the construction of HQ2. Additional tax revenue from service businesses and their employees which support either HQ2 or the employees working there.