Amazon.com Inc. (NASDAQ: AMZN) recently asked Virginia for its first subsidy payout of $153 million as part of the deal it negotiated in Arlington for its second headquarters, even though the company announced earlier this year that it would delay the construction of a new building as it adjusts to a post-Covid work environment.
This payment is part of an enormous subsidy package to the company from our region, with communities in Virginia and Maryland committing almost $900 million to the company for new facilities since 2000, according to watchdog Good Jobs First.
University of Wisconsin-Whitewater economist Matt Winden and I recently conducted a study that estimated the economic impact of the subsidies given to Amazon for 134 completed facilities around the country in the last two decades. We found that the tax breaks and subsidies for Amazon’s facilities have generally created relatively few additional local jobs compared to communities that did not get a new Amazon facility —…
Read the full story from the Washington Business Journal.
