Amazon's HQ2 NYC: Amazon reconsiders headquarters after local opposition, report says

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Amazon.com Inc is exploring alternatives to locating part of its new headquarters in NY in case the plan should fail due to local opposition, a person briefed on the matter told Reuters on Friday.

Tennessee and Virginia officials have both welcomed Amazon, approving incentive packages and infrastructure improvement projects.

Amazon may not deliver a new headquarters to New York City after all. It cited two unnamed people familiar with the retailer's thinking.

Amazon hasn't built any structures nor finalized any land leases in NY as of yet, and likely wouldn't until 2020.

"We're focused on engaging with our new neighbors-small-business owners, educators, and community leaders", an Amazon spokeswoman told Barron's in an email message. Whether it's building a pipeline of local jobs through workforce training or funding computer science classes for thousands of New York City students, we are working hard to demonstrate what kind of neighbor we will be.

Amazon shares closed down 1.6 percent on Friday.

According to a new report from The Washington Post, two anonymous officials have disclosed that Amazon might be backtracking on its plans to build a new headquarters in the New York City borough of Queens.

De Blasio argued in November that "this is a giant step on our path to building an economy in New York City that leaves no one behind".

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"I would be happy not to have them", said Terri Gloyd, the co-owner of the LIC Corner Cafe. "But not if that means that we're crushing unions, not if that means that we're terrorizing immigrants", Van Bramer said.

About 25,000 new jobs were expected to be brought to the city with Amazon's plans.

In a recent city council hearing, Brian Huseman, Amazon's VP for public policy, intimated that Amazon might be reconsidering its plans.

Detractors-including including US Rep. Alexandria Ocasio-Cortez, who represents a nearby district in Queens and the Bronx-have pointed to the potential neighborhood disruption, strains on an already congested public transit system, and rising rent and property prices that could push out existing residents from nearby neighborhoods. Council Speaker Corey Johnson criticized Amazon last week for pitting workers against one another.

Mayor Bill De Blasio, who has also championed the Amazon deal, responded to the company's stance on unionization by saying, "This is my message to Amazon: Welcome to New York City; This is a union town".

New York Gov. Andrew Cuomo framed the original announcement as a tremendous job creation opportunity for the entire New York region. "Because it is so ironic for Amazon, after they spent one year with everyone seducing them, and everyone courting them, we win and then there's political opposition".

Amazon is set to start construction on its second headquarters in 2020.as long as the company decides to stick with its original plans. The more than 15-month search prompted a frenzied competition between 238 cities in North America. Amazon has said it will turn its $2.5 billion investment into an incremental tax revenue of more than $10 billion over the next 20 years. Each project in NY and Virginia is expected to create 25,000 jobs.

The state's top 1 percent of income earners generate almost half of the state's income tax revenue, thanks to NY state's progressive tax code that taxes wealthier New Yorkers at a higher rate.

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