Reacting to months of opposition and protests, Amazon has decided against siting a major corporate headquarters in Queens. Opponents of the plan resented the subsidies that the state was giving to a trillion-dollar company and claimed that the move would exacerbate gentrification and drive up living costs. The result: a loss of at least 25,000 jobs for New York City, where the climate for business continues to worsen.
The Facts You Need to Know
Abatement: Most of the subsidies involved in the Amazon deal were already part of state law and represented an abatement of taxes on income that otherwise would not exist if Amazon didn’t move here. Read more.
Empty: The area where Amazon would have built is mostly empty and has been the focus of economic-development dreams for decades. Read more.
Billions: New York gives billions of dollars to other wealthy, favored businesses, without raising the hackles of local politicians. Read more.
“A small group of politicians put their own narrow political interests above their community.”
The Past is Present
“Throughout history, forces both natural and human have made cities rise and fall.”
In observance of Presidents’ Day, The Beat will resume on Wednesday, February 20th.
And in other news...
“Around 200,000 to 700,000 voters are expected to show up to the polls for February 26 special election for New York City Public Advocate, according to political experts and candidates for the office.”