The HQ2 deal is off for NYC.
- After securing the coveted bid for the the second Amazon Headquarters, New York City just got cut loose.
- Amazon’s decision follows weeks of protests against financial breaks promised to Amazon, union concerns, rent increase worries and more.
- $3 billion in state and city taxes was expected from the 25,000 plus new jobs the company would’ve brought.
- Yet, in a highly political move, a New York state Senate leader from Queens and outspoken critic of the plan was recently nominated to the state board that would have one-vote veto power over the development plan, effectively sending the tech giant the message: don’t count on approval.
What went wrong? Geek out on a simple, step-by-step of the deal-gone-sour.
And, when the largest company in the world wants to set up its headquarters in your city the opportunities and consequences need to be weighed. WordStirs takes a look at the debate here.