Amazon.com Inc. (NASDAQ: AMZN) is expected to occupy about 6 million square feet by the summer of 2035 in Arlington, according to the incentive agreement between the county and company released to the public Tuesday.
The company would get $23 million over 15 years, as expected. The county’s first payment would come in August 2020, provided Amazon secures at least 64,000 square feet of office space by July 2020. Amazon would need to more than double its square footage in 2021 to 252,800, according to the agreement.
The deal focuses on Amazon meeting size requirements because the county gets most of its money from property taxes, according to Cara O’Donnell, a public relations manager at Arlington Economic Development. The money to pay the e-commerce giant would come from the Transient Occupancy Tax, essentially the county’s tax on hotel room nights.
The deal also requires the county to give Amazon a heads up on public records request so that the company can “take such steps as it deems…Read the full story from the Washington Business Journal.