Maryland bends over backward for Amazon’s HQ2
Maryland is offering Amazon more than $8 billion in incentives to establish its second headquarters there.
The Hill reports Gov. Larry Hogan will likely sign the package that legislators approved Wednesday, April 4. The Promoting Extraordinary Innovation in Maryland’s Economy Act, or PRIME Act (clever), includes property, sales, and income tax credits, according to The Hill.
The offer that would cost the state billions over the next few decades is the largest than any other offer made public. Maryland is one of 20 finalists for Amazon’s second headquarters or HQ2.
Meanwhile, Amazon representatives are reportedly visiting the finalist cities. Reports of Amazon officials began surfacing last month in a few of the cities, including the Washington D.C. region. There was speculation that the focus in that area meant Amazon
CNBC reports representatives have visited at least 10 of the 20 finalist cities.
Amazon expects to invest more than $5 billion in construction and an additional $38 billion to the chosen city’s economy, as well as create up to 50,000 high-paying jobs with HQ2. It will be a “full equal” to the campus in Seattle, which occupies more than 8 million square feet across more than 30 buildings.
The cities in the running for HQ2 are:
New York City