Amazon may get a multi-billion-dollar tax break
AXIOS – DAVID MCCABE
Amazon stands to reap billions of dollars in tax breaks and other incentives in what is shaping up as a feverish, sweepstakes-style contest among North American cities to host its second headquarters and up to 50,000 new jobs, experts say. Judging by other recent such competitions, the bids could reach $10 billion or even higher.
- In the likelihood that the bidding does reach such rich sums, the contest could rapidly reduce the number of cities and states that could afford to compete.
- A high price tag could hurt Amazon itself if it undercuts a locality’s ability to fund good public schools, hospitals and infrastructure, the building blocks of both a successful business environment, and the high quality of life that attracts and keeps solid employees.
- The announcement comes as Big Tech — Amazon along with Apple, Facebook, Google and Microsoft — are already under increasing scrutiny for how they exercise their outsized market power.