>> Amazon rakes in the tax credit offers from cities. I'm Reuters Jeffrey Dastin in San Francisco. Today, Thursday, is the deadline for cities and states to propose to Amazon why they should have Amazon's second headquarters. Last month, the online retailer set off a contest, drawing much interest where it said it would invest $5 billion and hire up to 50,000 people to create a second headquarters in addition to its main location in Seattle.
So far, we've learned that Newark, New Jersey has promised $7 billion of credits against state and local taxes across the Hudson River. New York City hasn't offered any incentives, though the state might. And across the country in California, some $300 million of incentives have been offered to Amazon, and cities might offer things on top of that too.
Moody's, the credit ratings agency, said Austin is the most likely to win based on Amazon's criteria of having good workforce, lots of transportation options, and low cost of doing business. Followed by Atlanta and Philadelphia. However, we won't know the outcome of this contest until 2018, which is when Amazon expects to make its decision.