Amazon.com Inc.’s second headquarters in Arlington promises a big payoff for Virginia, if everything falls into place. If it doesn’t, for whatever reason, Virginia will have laid out potentially hundreds of millions of dollars for a deal that fell short of expectations.
As part of its effort to sell its proposed incentive package to the General Assembly, the Virginia Economic Development Partnership says it has accounted for a host of risks that might arise related to Amazon, from a shift in direction for the company to antitrust litigation.
“We have identified mitigation strategies to address even unlikely risks,” the VEDP said in its briefing to the House Appropriations Committee.
The commonwealth’s Amazon (NASDAQ: AMZN) inventive package includes $550 million in workforce cash grants for 25,000 jobs, or $750 million for 37,850 jobs, a host of transit and pedestrian upgrades in Arlington and Alexandria and a $1 billion Virginia Tech campus.
Let’s say Amazon does not ramp up…Read the full story from the Washington Business Journal.