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In addition to tax breaks, tax credits and government subsidies, add a toxic stream to the list of reported benefits that cities are offering to Amazon.com Inc. as they compete for the headquarters of its second head office.
New York Governor Andrew Cuomo strives to reach his so-called "QG2," the New York Daily News reported on Tuesday, offering incentives meant to include hundreds of millions of dollars in public funding and renaming the Newport Long Island City Creek. "The Amazon River."
But that might not please Amazon much. Newport Creek is one of the most toxic waterways in New York City. Polluted over the years by hydrocarbons and sewage, it was named federal Superfund site in 2010. The brook is a tributary of the East River and is part of the border between Brooklyn and Queens.
In addition, Amazon
AMZN, -0.55%
already has a homonymous river in Brazil, and it's pretty impressive.
Amazon's QG2 should be an economic benefit for the busiest city, employing up to 50,000 people and generating more than $ 5 billion in investment from Amazon. The site is expected to attract highly skilled and high-income workers, attract other businesses and raise housing prices.
Lily: Winning Amazon's QG2 would hurt these cities the least – at least by this measure
The list of successful candidates is reduced to 20 cities, including Boston, northern Virginia, Atlanta and Chicago. The proposed site in Long Island City has recently been the subject of a follow-up visit by Amazon, the Wall Street Journal reported earlier this month, suggesting it is on the short list.
Search for the HQ2 site has been underway for over a year and it is unclear when Amazon will make its final decision, although some reports indicate that it may be announced by the end of the year.
Amazon has seen its market capitalization wipe out nearly $ 120 billion in recent days, even though its shares have risen more than 30 percent since the beginning of the year, compared to the S & P 500.
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Decrease of 0.3%.
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