Amazon Starts Two New Investments in New York and VirginiaUma (Author) Published Date : Nov 15, 2018 18:06 IST
The world's largest online retailer Amazon's $5 billion investment ends in a split, Long Island City at New York and Crystal City in Northern Virginia, both just outside the great urban centers. This creates more than 25,000 jobs and will invest $2.5 billion in each of these locations. These two locations New York and Virginia lie just outside Washington D.C. proves to be boon for the residents.
Amazon HQ2 is a new planned headquarters for online retailers and tech companies. There would be certainly an economic boost in United States cities and new job opportunities for talented job seekers. Amazon is the world's third valuable company, next to Apple Inc and Microsoft Corp. The decision of its location in Arlington, Virginia, could have good access to the political influence in the U.S. capital, where it has one of the largest lobby shops located.
Amazon offers a consolation prize of a 5,000-person venture in Nashville, Tennessee to the bidders. This helped for a massive publicity of the company. The winners of the bid expressed that it was a bit costly but worth and losers said they learned a lot from this process. Amazon focuses on Long Island City's Breweries and Parks with easy access for their transact.
The two new sprouts at New York and Virginia hope to get about $2 billion through tax credits and incentives. They have future plans to increase this amount to flourish their business. Amazon is one of the biggest employers in the United States with more than 600,000 workers globally. It is racing with Alphabet Inc's Google and many other companies working to bring new technologies in the field of cloud. Those heavy competitors offer free food and perks, which attracts the employees. Now Amazon plans high-pay jobs for the employees.
Michael Pachter, an analyst at Wedbush Securities opines, this location would help Amazon win a $10 billion cloud-computing contract from the U.S.
Amazon Starts Two New Investments in New York and Virginia