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D.C. offered Amazon up to $1B, permits in one day

The D.C. government offered Amazon.com Inc. (NASDAQ: AMZN) an incentive package worth $1 billion-plus over 16 years, plus a host of side benefits like single-day permitting, to land its second headquarters, to no avail.

The District on Monday released an unredacted version of its HQ2 incentive submission, and, as expected, it largely was based on tax breaks through existing law, namely the Qualified High Technology Companies act.

Through QHTC, D.C. suggested Amazon would see a variety of its taxes and costs — real property, personal property, new hires, relocation expenses — abated, exempted, credited or reduced by between $488 million and $1.053 billion through 2034.

“This incentive exists in DC’s tax code, eliminating uncertainty from a long legislative process,” per the submission, which features a photo of the D.C. streetcar on its cover.

D.C. pitched four sites for HQ2 — Anacostia riverfront, to include Buzzard Point, The Yards and Poplar Point; NoMa-Union Station;…

Read the full story from the Washington Business Journal.



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