- Amazon.Com, Inc AMZN Cloud Services Unit plans to invest an additional $35 billion in Virginia data center expansions through 2040.
- Amazon Web Services (AWS) said the new investment would create 1,000 jobs, Reuters reports.
- Republican Virginia Gov. Glenn Youngkin said AWS will build multiple data center campuses across Virginia.
- Also read: Amazon, Google Analyst Cuts FY23 Revenue Growth Forecasts as Distribution Channel Indicators Point to Challenging Cloud Outlook
- In 2021, AWS said it had invested $35 billion in data centers in northern Virginia from 2011 to 2020 and had 3,500 full-time employees at its data centers in the state.
- Virginia has developed a new “Mega Data Center Incentive Program” that will likely entitle it to a 15-year extension of tax exemptions for data center sales and use of equipment and software.
- AWS is also eligible for a federal grant of up to $140 million “for site and infrastructure improvements, staff development, and other project-related costs.”
- In 2018, Amazon said Northern Virginia would house its second headquarters, known as “HQ2,” and employ over 25,000 people. In April, Amazon said the number of employees allocated to the site was 5,000.
- In November 2022, AWS announced plans to hire employees over the next year and are constantly building new data centers.
- Revenue at Amazon’s cloud unit, the largest provider of leased data storage and computing power, totaled $20.5 billion for the three months ended September, up 27%.
- Amazon had started laying off employees in November to weather the economic slowdown and macro Uncertainties in the recovery of the pandemic.
- Layoffs are expected to reach 18,000.
- Price promotion: AMZN shares closed up 3.81% at $97.25 on Friday.
- Photo by Tony Webster via Flickr
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