After months of speculation, the second headquarters of one of America’s largest companies was recently revealed. The estimated $3.7 billion Amazon Long Island City project promises to bring construction opportunities and 25,000 new jobs to Queens.
Amazon’s HQ2 Finds a Home in New York
Amazon’s HQ2 will be located in the vibrant Long Island City neighborhood, which currently features many cultural institutions, new and converted housing, restaurants, bars and academic institutions.
The plan for Amazon Long Island City calls for at least 1.5 million square feet of new mixed-use facilities, which will begin construction 12 months after final approval. Amazon also plans to donate a site for a new public school and invest in infrastructure improvements and green spaces.
More High-Paying, Local Jobs
“With an average salary of $150,000 per year for the tens of thousands of new jobs Amazon is creating in Queens, economic opportunity and investment will flourish for the entire region,” said New York State Governor Andrew Cuomo. “Amazon understands that New York has everything the company needs to continue its growth.”
Amazon has pledged to bring more than 25,000 high-paying, full-time jobs to New York. The HQ2 location will feature four million square feet of energy-efficient office space, which could even double in size over time. The initial plans also call for a 10,000-square-foot workforce development and training space, approximately 150,000 square feet of public open space, a waterfront esplanade, community and artists work areas and more.
Amazon has said that it will hire about 700 workers in 2018. By the end of 2024, they expect to have hired approximately 16,000 people. Amazon Long Island City projects it will be at a full staff of 25,000 by the end of 2028. Although, that number could eventually increase to 40,000 local jobs.
Amazon Long Island City to Help Grow the Local Economy
“We’re going to use this opportunity to open up good careers in tech to thousands of people looking for their foothold in the new economy, including those in City colleges and public housing,” said New York City Mayor Bill de Blasio.
In addition, the city’s newest commercial resident could significantly increase the tax base. It has been projected that over the next 20 years tax revenue will rise more than $10 billion through investment and job creation.
Some Say Incentives too Sweet
The announcement of Amazon’s New York HQ2 location was met with some vocal, local resistance. A few municipal leaders argued that the estimated $3 billion in incentives was far too sweet a deal for one of America’s richest companies.
With public review still to come, none of these plans are set in stone. Expect more changes to be made to the plan before the groundbreaking of Amazon Long Island City in 2020.