Image: Axel Drainville via Flickr.
August 9, 2018
Newark woos Amazon by adding $1B in tax breaks to HQ2 pitch
Since Amazon announced they'd be deciding which city would become the location of the mega corporation's second headquarters by the end of the year, competition between contenders has heated up. Along with 20 cities that include Los Angeles, Denver, Miami, New York, Boston, three sections of the Washington, D.C., region and, in Canada, Toronto, Newark is still in the ring from an initial field of 238 possible locations. On Wednesday the city approved a new addition to the $7 billion package the state is offering to sweeten the pot in hopes of scoring HQ2, as it's being called. The added incentive comes in the form of a trio of ordinances offering nearly $1 billion in payroll tax exemptions to companies that create at least 30,000 jobs and invest $3 billion in the city in the coming 20 years, Bloomberg reports.
That's quite a package
That's quite a package
