Competition is heating up between New York City and Newark. Both cities have been named on Amazon’s shortlist for its new headquarters and they are offering tax incentives and prime locations to attract the online retailer to their city limits.
The hunt for Amazon’s new secondary headquarters began in September 2017 when the company announced that they were opening a new headquarters. With an estimated 50,000 jobs on the line, more than 230 cities across the United States, Canada and Mexico jumped at the chance to host the new site. Eager to attract the successful company, which has transformed Seattle into a bustling, modern city, hopefuls offered large tax breaks and launched PR campaigns to convince the retail giant to accept their proposals.
In January 2018, Amazon announced a 20-city shortlist for their new North American headquarters. New York City and Newark are among the final contenders, highlighting the Big Apple’s long-held rivalry with its New Jersey neighbor. With Amazon pledging to invest $5 billion into its new headquarters and its intention to spread out over 8 million square feet of real estate, a lot of money is on the line.
New York City hopes that its reputation as a hub of international business will convince Amazon to opt with the Empire State. The city also offers the largest number of tech workers; Amazon can draw from a pool of over 300,000 skilled workers if they opt for a New York location. Manhattan West is already home to a branch of Amazon, and Staten Island currently boasts a large Amazon distribution center. New York Governor Andrew Cuomo has confirmed that Amazon will receive an incentive package if they select New York as the site of their new headquarters.
Meanwhile, across the Hudson, Newark is touting its lower real estate prices and reduced cost of living. New Jersey is also dangling an attractive $7 billion incentive package in front of Amazon, hoping that offering the largest incentives will tip the scales in the state’s favor.
Despite the efforts of Newark and New York to attract Amazon, industry insiders have postulated that Boston, Austin or Atlanta will ultimately seal the coveted the deal. Amazon is expected to announce their final decision later this year.