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>> Amazon, you came to the right place.>> New York City Mayor Bill de Blasio hailing Amazon on Tuesday, after it officially picked New York City's Long Island City and Arlington, Virginia as the sites for its so-called second headquarters. The announcement brings to end a year long economic slug fest among city officials around the country who rushed to lay incentives at Amazon's feet for the promise of 50,000 new jobs.
The decision to split HQ2 into two cities means each city will now only get 25,000 jobs. But at what cost? Virginia will fork over $500,000,000 in tax incentives to America's third most valuable company on the stock market, Virginia Governor Ralph Northam.>> I can proudly say that Virginia's proposal represents good fiscal stewardship.
>> The state and city of New York promised Amazon one and half bilion dollars in tax credits and grants, which works out to about $50,000 per job. In coming Queens democratic representative Alexandria Ocasio-Cortez already up in arms, describing the response from the community as quote outrage pointing out on Twitter.
That money could be better used to fix New York's crumbling infrastructure and infamous subway system. Reuters breakingviews columnist Tom Buerkle points out another concern. Amazon's choice of New York and Virginia could add to concentration of geographical wealth.>> I do think one of the risks of this of this is that simply aggravates the socioeconomic divide that increasingly polarizes America.
So you have wealth jobs, development, increasingly concentrated on the coasts and in certain other tech clusters like Austin perhaps. And, wide parts of America are kind of left out of this development.>> But Amazon did throw the south a bone. In a surprise addition, Nashville, Tennessee is getting a new operations center.
5,000 positions with average paychecks in the six figures is the promise. That of course didn't come free either. Authorities there provided $102 million in tax incentives hiring for all the new locations will start next year.