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Amazon scouts for second headquarters with $5 billion price tag

(Reuters) - Inc ( AMZN.O ) said on Thursday it would build a $5 billion second Headquarters in North America, kicking off a competition between cities and states to offer incentives and tax cuts that could bring 50,000 new jobs.

Incentives from land to fee cuts to relocation packages will be a major part of the decision, Amazon said, and local governments have shown they will go to great lengths to secure jobs and investment.

LeRoy, who has written critically of Amazon, said the reality of moving a headquarters has more to do with the executive talent pool, the amenities, schools, housing stock and quality of life, rather than municipal finance incentives.

Incentives for Amazon’s new headquarters could make sense as a long-term investment that could change the image of a metropolitan area, said Michael Mandel, chief economic strategist for the Progressive Policy Institute, a liberal think tank.

Writing by Peter Henderson, Reporting by Supantha Mukherjee and Aishwarya Venugopal in Bengaluru, Dan Bases in New York; Editing by Saumyadeb Chakrabarty and Nick Zieminski

READ MORE (Reuters)

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Amazon scouts for second headquarters with $5 billion price tag


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