Amazon to abandon plans for NY headquarter

New mznnzq
Feb 14 134 Comments

The decision comes amid a flood of criticism from some state constituents and officials since the company announced it planned to come to New York last fall

https://finance.yahoo.com/news/amazon-abandons-plans-for-new-york-headquarters-165803277.html
Amazon said in a statement Thursday that it is abandoning plans to build a headquarters in Long Island City, New York.

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TOP 134 Comments
  • New / Eng sparked
    New Yorkers are the dumb
    Feb 14 27
    • Jet.com 45678
      I’ve lived in New York all my life and I can safely say. Good riddance. NYers will be just fine without Amazon. They are definitely not welcome.
      Feb 14
    • Ultimate Software JackViii
      Speak for yourself as an engineer Amazon coming to town would have benefited me. And besides myself there were definitely plenty of pros along with the cons of them coming.
      Feb 14
    • Microsoft / Other
      hfKv13

      Microsoft Other

      PRE
      Yahoo
      hfKv13more
      Everybody relax. Amazon will still expand. They will lease instead of building a new building. They just won’t call it HQ2. Can’t believe they couldn’t reach a compromise with officials, but I suspect this little drama isn’t over yet.
      Feb 16
    • AIG / Product
      Raging

      AIG Product

      PRE
      Deloitte Digital
      BIO
      Counseling CxOs for AI-first strategy !
      Ragingmore
      AOC has financial literacy problem. So does Square.
      Feb 18
    • Good on NY. I’m glad amazon didn’t infect Boston. I was proud of our city when our pitch included no free money for Jeff.
      Feb 22
  • Amazon sRjf52
    Just like extreme right politician are idiots, same goes to extreme left liberals. Congrats  extreme left liberals you successfully blocked the prosperity and growth from coming to Queens NY.
    Feb 14 22
    • Amazon / Eng
      eisenhwr

      Amazon Eng

      PRE
      Google
      eisenhwrmore
      Seattle isn't too bad, either. The poor were displaced, but the lower middle class can still afford nearby places such as Shoreline, and they probably got some boost in wages (but that didn't offset the cost of living completely) because of all the construction in the downtown/SLU area
      Feb 14
    • Salesforce AkOj58
      The second generation in Seattle and Bay area can buy a place in their hometown? Or people who came from abroad fucked it up? I’m a foreigner myself and I’m doing the same thing to the people in my area. The nature of tech is different from other businesses. Homelessness in SF didn’t become worse than before? Sure it did. It’s not a car factory to employ local people, it brings people from India and China.
      Feb 14
    • Verizon Media sxSG85
      I live in Queens and No one gives a shit about amazon here. Keep that shit in PNW.
      Feb 14
    • Microsoft gfba68
      Don't ignore the impact of high growth on the lower half of the income spectrum. It happened in Seattle and the Bay Area and many other cities around the globe. If you are rich, Amazon coming to town is great. If not, it's probably a net negative for you.
      Feb 15
    • Amazon crypto*
      @gfba68 are to explain how ?
      Feb 15
  • Lyft TEHm35
    Lol Breaking up on Valentine’s Day too ...
    Feb 14 1
    • Blue apron Imvisiting
      The news headline was “dumped on Valentine’s Day”
      Feb 14
  • Damn. They sent me coding assessment for NYC too.
    Feb 14 1
    • Spotify KXAo87
      They're still hiring a ton. Just no tax break for a big building
      Feb 14
  • Microsoft booboogjdj
    They should have done Miami.
    Feb 14 0
  • Google cmonsta
    I have a dream that one day our politicians will be smart enough not to throw tax subsidies at the largest, richest companies in the world. No wonder our cities are decaying into decrepit, dirty, hellholes.
    Feb 14 11
    • Microsoft Jeph Bezos
      I didn’t attack you, i stayed the obvious.

      Tax breaks are directed at a company, and have a time limit. After a few years, the tax breaks would be over and amazon would be paying 100’s of millions in taxes. Which could be used by NYC to fund whatever they please.

      In regards to the employees. The 25-40k employees that amazon had agreed to hire don’t have tax breaks. Meaning they’d be paying taxes from day one, thus generating millions for the city to fund the city services and infrastructure you speak of.
      Feb 18
    • Google cmonsta
      Thanks for sharing your mastery of the economics of corporate giveaways. Now please cite the relevant studies that prove us doubters are wrong. As in the Gothamist article, there's little available evidence of public ROI for cities offering these types of corporate tax breaks.
      Feb 18
    • Microsoft Jeph Bezos
      Ah, sarcasm.
      1. Little available evidence does not disprove or prove any point.
      2. The article you provided clearly states that the ROI provided by tax breaks is negligible or even counter productive when subsidies are given and no actual hiring is done by the corporations receiving said subsidies. In this particular case, Amazon was guaranteeing 25k-40k jobs in NYC. If you’re gonna cite an article to prove your point, then make it apples to apples.
      Feb 18
    • Google cmonsta
      I am truly interested in reading the alternative viewpoint's data on this topic, but I'm having trouble finding it. For now we'll have to agree to disagree. I firmly believe that governments shouldn't pick and choose which businesses receive preferencial tax treatment. Moreso it's silly to give our most dominant and successful companies more advantage in the market.
      Feb 18
    • Microsoft Jeph Bezos
      I disagree with your last sentence. Wouldn’t you want to somehow incentivize the worlds largest tech company to open shop in your city and bring hundreds of millions of dollars in revenue, thousands of high income employees, who themselves would pay taxes while spending their high income to boost other businesses indirectly? It’s not like NYC, was a victim here. There was a clear benefit to the subsidies in the long run. Put emotion aside and just be pragmatic; luring in Amazon was clearly a strategic move for the city in the long run.

      In the end, NYC is now worse off than before. They have lost out on the additional tax dollars that both Amazon and the 25-40k new employees would have provided for the city And they didn’t “save” any money.

      Agree to disagree. :)

      https://www.foxnews.com/politics/de-blasio-ocasio-cortex-claim-spending-amazon-tax-break-money
      Feb 18
  • Microsoft Jeph Bezos
    Prices surged in the area like crazy, and now all those who paid premiums are fucked lol.
    Feb 14 4
    • Amazon xb373brd82
      Some circles would have called it pump and dump.
      Feb 14
    • BuzzFeed / Eng
      0xdead

      BuzzFeed Eng

      PRE
      BuzzFeed
      BIO
      leet hax u fr00bs
      0xdeadmore
      My mother used to call me that. lol
      Feb 14
    • Morgan Stanley Imagen
      It all evens out with the L line fuckery
      Feb 14
    • Blue apron Imvisiting
      Your mother still calls me that 😉
      Feb 14
  • Redfin lisafrank
    On the one hand, NY politicians are bone heads, on the other hand, NYC was an odd choice from the beginning. It has the same mix of ultra high COL and toxic local politics that Amazon was trying to escape in Seattle.
    Feb 14 3
    • Microsoft gfba68
      That wasn't the purpose of HQ2. The purpose is to open another office that is capable of attracting top tier talent. Many people would prefer to live in DC or NYC than Seattle or Bay Area. It was also about being close to political and financial power centers for strategic reasons.
      Feb 14
    • Microsoft / Eng Wwjjwjsh
      DC or Crystal city is not cheaper than Seattle.
      Feb 14
    • Apple 🗣ur🧠
      Umm. Yeah. They definitely are both more expensive than Seattle. And LIC is as expensive as the Bay Area, if not more expensive.

      Amazon was just trying to scrape off as much sweetheart special interest deals as they could get. NYC made sense to them. But when they were threatened at not getting their welfare money, they pulled the plug.

      That tells me Amazon wasn’t so serious as they were about their rapid expansion efforts.
      Feb 14
  • Microsoft gfba68
    I don't blame the citizens for balking at the massive incentives Amazon was being offered. They are still free to open another office there without any tax breaks, of course There is no way that deal was going to pay for itself.
    Feb 14 0
  • Amazon sev-5
    Break up with NYC. Stay in SEA with male engineers lol
    Feb 14 0
  • Oath bYSQ03
    Queen is the melting pot of cultures which is rich in ethos, gastronomy and most importantly a character which neither Silicon Valley nor Seattle has. New York said no to capitalism because its local people care about Queens and the unique place it occupies in New York. It’s not a South Lake Union that needs to be transformed.

    Thank you but no thank you. New York can and will thrive without an Amazon.
    Feb 14 2
    • New ktFx33
      Well spoken.. I love me some queens pizza or flushings Chinese food. Jeff stay away your greed is not welcome here. I’m sure there will be a few winners, especially those on the high amazon payroll. For the average New Yorkers this would have just meant being pushed out of affordable property
      Feb 14
    • Jet.com 45678
      Couldn’t have said it better myself ! Seriously out of all the places for such a company to move into, Queens is not it. It’s home for hope and opportunity to so many different people!

      Some of your other Oath buddies on this thread don’t really understand that.
      Feb 14
  • Capital One strangevil
    What a stupid ass move from New Yorkers. This could have literally been an opening for all tech companies to rush in. History is testimate of how companies like to flock together the greatest example being Silicon Valley as attracting talent isn't a problem then. All tech companies will just shun NY from now on owing to their close door policy.

    I know throwing tax incentives at one of the biggest company shouldn't be the norm but we live in a world where it is. Better let that create high paying jobs at least.

    Good win for NoVA though.
    Feb 14 2
    • Facebook Solais
      Google's still expanding heavily in NYC
      Feb 14
    • Netflix <empty>
      Most tech companies already have a decent presence in NY. Without begging for corporate welfare unlike panhandling Amazon....who will lose out on talent that isn’t willing to move to lesser cities.
      Feb 16
  • This comment was deleted by original commenter.

    • Macy's / Eng UgVd81
      That sucks... Sorry to hear that.
      Feb 14
    • They still are expanding in NYC, just not by 25,000.
      Feb 14
  • Bloomberg / Eng iVX372
    It's simple math. A $3B tax subsidy for 25k new jobs costs $120k per new job. That easily pays for itself in additional NY state and NYC city wage income taxes over 8-10 years, excluding any taxes that Amazon itself pays. I wonder if they would have moved here if lawmakers had stated that subsidies were off limits from the beginning.

    It would have been a net tax win for NYC. And I'm convinced that NYC's infrastructure is failing because of unions and overpaid public employees, not because of lacking tax revenues. NYC residents pay the highest income taxes in the nation by far, as do companies headquartered here. Yet NYC looks like a third world country in comparison to most west coast cities.

    Side note: NYC's tech talent is ranked 5th in North America, which isn't especially impressive for a city considered by its residents to be the center of the world: https://www.cbre.us/research-and-reports/Scoring-Tech-Talent-2017
    Feb 14 9
    • New ktFx33
      NYC is so rich in ethnic diversity, you can get any dish from the entire world made authentically and affordable in NYC. Of course that doesn’t phase a snob like you just move into the subs where all houses look the same, and people too
      Feb 14
    • Bloomberg / Eng iVX372
      I love SF and hate suburbs. In the Bay, you can get food from anywhere in the world and the percentage of white people is even lower than in metro NYC. The percentage of foreign born residents is the same.
      Feb 14
    • New ktFx33
      Hmm I really like flushings and queens.. nyc is really nice for ethnic food. I haven’t been to SF so I can’t comment on it.
      Feb 14
    • Google BeataMaria
      Lol SF food and diversity compared to NYC is like BART compared to subway. It’s not even cheaper in SF, so glad I left that hellhole
      Feb 14
    • Jet.com / Other
      gtfoorgtfo

      Jet.com Other

      PRE
      Starbucks
      gtfoorgtfomore
      8-10 years in the red while homeless population increases? Look what they’ve done to Seattle maybe?
      Feb 15
  • Spotify lalalalale
    what if they move to Newark instead? Will this impact NYC?
    Feb 14 5
    • Google SWE5
      Might be best of both worlds. No tax incentives from NY but still in the NYC metro area
      Feb 14
    • New / Eng sparked
      Noone wants to move to Newark.
      Feb 14
    • Prudential / Design Fjiudh
      We’re in Newark. For some reason.
      Feb 14
    • Bloomberg / Eng iVX372
      I doubt it. Oakland is much nicer than Newark, and many already consider it a shithole.
      Feb 14
    • Bloomberg bbgemp21
      Audible office is in Newark.
      Feb 21
  • iProspect Chara
    Meaning that Long Island City will never be gentrified ... lol
    Feb 14 1
    • Oracle Elly's son
      LIC have been gentrified years ago. Come visit so you can see for yourself.
      Feb 15
  • EPAM Systems / IT
    yWDf46

    EPAM Systems IT

    PRE
    EPAM Systems
    yWDf46more
    I heard that they moving into Lyndhurst, nj
    Feb 14 3
    • Chase artworks
      What the hecks in Lyndhurst?
      Feb 14
    • Two Sigma asciiarti
      If so, I can imagine that HQ will hold events in medieval times in Lyndhurst,NJ
      Feb 14
    • Chase artworks
      Of ourse! There’s that.
      Feb 14
  • Oath iWyW71
    Actual Queens (Astoria) resident here. Southern LIC and surrounding Queensboro Plaza have had luxury condo development and crazy infrastructure improvement over last 10 years.

    I cant believe how badly NYC blew this. It'll be fine regardless but this was just outright stupid to pass on.
    Feb 14 2
    • Jet.com 45678
      In no way do I see or understand how amazon moving into Queens could have benefitted Queens or NYC? What could have amazon brought that we don’t already have ? They can keep their horrible alpha plague like mindset and take that shit elsewhere.

      Lived in Queens my entire life, so actual resident as well.
      Feb 14
    • Oath iWyW71
      What can any influx of jobs bring? People, money, and the services needed to keep these things up. As well as long term tax revenue that would eventually come with it.

      At some point the "old neighborhood" has to move on lest it risk being passed by for a long time.

      You know whats been happening in Astoria the last couple of years? The senior generation passes on, their properties are sold and leveled to put up 6-9 unit 1 and 2br condos.

      The tax incentive was a HUGE sticker shock to a lot of people, but are people aware that the TV and movie industry receive major tax breaks to shoot in NYC? Or in some cases tax abatements for people who move into developing areas with new construction?
      Feb 15
  • MailChimp vmRD74
    Thank goodness. My favorite restaurant is in queens and I was sure that amazon showing up would’ve closed them.
    Feb 14 1
    • GrubHub stocks
      What's the restaurants name?
      Feb 15
  • Amazon / Eng n0v
    Wow
    Feb 14 0