Saturday , October 1 2022

Cuomo and Blasio hold a jubilant press conference on the Amazon HQ2


New York Governor Andrew Cuomo and New York City Mayor Bill de Blasio – two old political enemies despite the common party – celebrated their business with Amazon to bring home the retail giant, known as HQ2, in Long Island City, Queens.

Both men appreciated the scale and impact of the unprecedented project, which will create at least 25,000 jobs over the next 10 years in the fast neighborhood on the East River River in Manhattan during a joint afternoon press conference.

Cuomo said the project will have a revenue-stimulus ratio of 9: 1 – "the highest rate of return for an economic stimulus program the state has ever offered" – resulting in tax revenues over the next 25 years $ 13.5 billion. He and the mayor mentioned that the largest economic development project before HQ2 created 1500 jobs in the state.

"This blows away everything I've ever seen," Blasio said.

Amazon says it will invest about $ 2.5 billion on its campus and related projects, including infrastructure, school, and green space development.

At the same time, the state will probably offer $ 2 billion – if not more – in tax incentives to the company, a major point of discussion between the critics of the plan. Both Blasio and Cuomo have called the HQ2 competition a long and "fierce" process and said massive tax incentives were needed to complete the transaction.

Read more: & # 39;We were not chosen to serve as Dr. Amazon ": Alexandria Ocasio-Cortez and other NYC politicians revolted against Amazon HQ2's move to Long Island City

But the mayor has previously insisted that it does not support corporate subsidies as a way of attracting big business into the city.

"We do not believe in corporate subsidies for retention or for attracting corporations," Blasio said last week. "This is a very strong opinion I support and it is the difference with the Bloomberg administration who believed in corporal subsidies."

Cuomo insisted that New York had to fight for the project to remain economically competitive.

"You want to be ahead of the economic curve," the governor said. "Whether you are part of the economy of tomorrow or you are part of the economy yesterday."

The headquarters, which will eventually reach a campus of eight million square feet of the Long Island City seafront, will be built near the country's largest public housing development, Queensbridge Houses. The mayor said that Amazon will work with the New York City Housing Authority to provide employment and training opportunities to the residents of Queensbridge.

"One of the largest companies on earth, near the largest public housing development in the United States – synergy will be extraordinary," Blasio said on Tuesday, "a great day for New York" and "an extraordinary day for Queens. "

REUTERS / Pascal Rossignol

– Will we be happier if they do not come?

But not all the democratic governments in town and state were praising the announcement. Many doubt that the benefits of the project will be felt by the city's troubled communities.

The progressive leaders of the city, including Alexandria Ocasio-Cortez, and Alexandria Ocasio-Cortez and members of the New York Council, expressed concern – and, in some cases, indignation – both about the process that ended the deal. They have been particularly critical of tax incentives, as well as the potential negative impact of moving the e-commerce giant to a city whose infrastructure and education systems are already tense.

"That idea [Amazon] will receive hundreds of millions of dollars in tax breaks at a time when our metro is ruining and our communities need more investment, no less, it is extremely important to the inhabitants here, "Ocasio-Cortez tweeter months.

Local politicians have expressed concern about the future impact of the headquarters on rent and property costs, which is likely to grow in the neighborhood and surrounding areas, as well as the burden it will have on the city's infrastructure, including the subway that is struggling.

De Blasio admitted that a concern about the massive project is correct and said he is working to maximize the benefits for "New York Daily", which he insisted will overcome the project costs far.

"I ask a true question: Would we be happier if they did not come?" by Blasio said. "I think most people look at the numbers and say," No, how will we lose all these jobs and tax revenues "

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