Amazon caving - they're going to NY - AOC chills, knowing she won...

[George II]

73. That is simply not true. Other than a normal state grant given to ALL new businesses in NYS....

....they would have gotten nothing. What would have happened is they would have paid their normal city and state taxes and, if they met certain criteria they would get a rebate of some taxes already paid.

Look at it like buying a new car with a $1000 rebate. You pay the full price of the car and then a month or two later the manufacturer gives you $1000 back. You still paid $20000 for the car less $1000.

Amazon would have spent lots of money on upgrading the local subway station, surrounding roadways, and other infrastructure.

Plus, not figured into the benefit to the state and city are payroll taxes paid by the 25,000 new employees, the increase revenue of the stores, restaurants, etc. in the area that would have been frequented by those thousands of new employees, lots of other benefits to the area. Now, if they didn't hire 25,000 people they wouldn't have gotten as much of a rebate. That's how the deal worked, unfortunately people didn't stop to think about that.

That was a HUGE loss to the city and state and the local businesses.

As for the Hudson Yards development, the City and State spent roughly $8 billion to improve the area where it was built, including extending the #7 Flushing Line at a cost of billions.

Finally, Amazon is merely leasing space in Hudson Yards, they can pick up and leave any time they want.