- Amazon.Com, Inc AMZN sought his first round of economic stimulus payments from Virginia for his new headquarters in Arlington.
- The stimulus could see over $152 million in state money paid to tech giant The Washington Post by the end of 2026 reports.
- The state pledged up to $750 million for Amazon’s new offices in Northern Virginia, phase one of which is expected to open in June.
- From 2020 to 2022, Amazon declined to apply for these performance grants due to pandemic-related challenges for those three years.
- Amazon’s bid coincided with a difficult time for the company, littered with record layoffs and restructuring. The report adds to Amazon’s joint plans to pause construction on the second part of its campus, including three office towers and a futuristic “helix” a stone’s throw from the Pentagon.
- Virginia’s incentives for Amazon are designed to reward the company’s goal of creating 25,000 new jobs in the Commonwealth by 2030. State officials agreed to pay the company $22,000 for each full-time position with an average salary of $150,000.
- Amazon had hired more than 8,000 employees to work in HQ2 by March and was consistently ahead of schedule in hiring.
- The report also notes that this is the last year that Amazon can apply for this round of incentives. The payments reflect hiring and job creation through the end of 2022 and cannot be paid out until FY27.
- The report quoted Amazon spokesman Zach Goldsztejn as saying the company is seeking government dollars for the 6,939 jobs it has created in Arlington. The state regulator reviews the company’s application to verify each new job.
- Arlington County’s stimulus grants are expected to total $23 million by the end of this decade. Local officials agreed to pay the company part of an increase in tax revenues from hotels and short-term rentals.
- Amazon said the pause in construction at Arlington was not a sign of further job cuts.
- Amazon has yet to enforce a consistent return-to-office policy.
- Price…
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