Maryland’s package to Amazon.com to lure HQ2 to Montgomery County included $2.8 billion in refundable state income tax credits spread out over 10 years, as well as $2.4 billion in new transportation funding.
The total incentive package was $5.84 billion, setting a state record. It had been kept mostly secret as Maryland officials attempted to win a national bidding war to attract Amazon’s estimated $5 billion investment and 50,000 new high-paying jobs.
The details were released Tuesday afternoon by the Maryland Department of Commerce in response to a state Public Information Act request by the Baltimore Business Journal.
The document showed that the incentives crafted by a team of state officials, including Gov. Larry Hogan and Commerce Secretary Mike Gill, were diverse and generous — and still not enough to win the company’s second headquarters. The online retailing giant announced last week it had selected two sites: Northern Virginia and New York.
Montgomery County made the short…Read the full story from the Washington Business Journal.