Lawmakers Approve Massive Incentive Package to Try to Win Amazon HQ for Newark
Lawmakers Approve Massive Incentive Package to Try to Win Amazon HQ for Newark
Almost unanimous bipartisan support for multi-billion-dollar goody bag aimed at enticing Amazon to build its new corporate headquarters in Garden State
If an ongoing push to lure online retail giant Amazon into building a new corporate headquarters in New Jersey ultimately proves unsuccessful, the lack of a lucrative corporate-tax incentive package being put on the table shouldn’t be the reason why.
State lawmakers yesterday gave final approval to a tax-incentive bill that would, among other things, provide per-job tax credits worth as much as $10,000 annually to Amazon, or another company that is willing to hire at least 30,000 employees and invest at least $3 billion in a corporate headquarters in New Jersey.
The measure, which Gov. Chris Christie is expected to sign, officially follows through on an offer that legislative leaders from both parties first made several months ago in response to an announcement from Amazon that the Seattle-based company was searching for a location to build a second corporate headquarters that would have as many as 50,000 employees.
After receiving proposals from hundreds of cities and states across the country in the wake of that announcement, Amazon officials are expected to reveal their preferred location later this year.
