Amazon HQ Will Cost New Yorkers $61,000 per Employee Thanks to Democrats’ Corporate Cronyism
Like many New Yorkers, I want Amazon to come to our state and its job creation to benefit our residents. You’d be hard-pressed to find a city or state in America that would not welcome the economic activity created by capitalism. But the announcement by Gov. Andrew Cuomo and Mayor Bill de Blasio that Amazon will receive $3 billion in our tax dollars in exchange for making Long Island City its new headquarters left fiscal policy wonks scratching their heads and taxpayers holding the bag.
Despite some unfriendly policies adopted by de Blasio and Cuomo over the years that have plaed additional burdens on our private sector, New York remains “the capital of the world” and a major center for commerce. This coupled with our talent pool has organically attracted major investors and job creators since its inception. . .
Other locations have managed to attract Amazon’s business without breaking the bank. For example, Virginia will now be home to the other Amazon HQ2, but at a fraction of the subsidies New York is providing. Between Arlington and the commonwealth of Virginia, the government will be subsidizing $573 million for the same 25,000 jobs that will be brought to New York. Whether this is a result of a raw deal or, as Cuomo admitted, a consequence of Virginia’s lower tax burden, it is the people of New York who will pay the price of the largest incentive package ever provided to a private company by the state.
Many of my colleagues on other side of the aisle are misdirecting their shots at Amazon, citing “corporate greed,” but you can’t blame the tech giant for taking advantage of the best deal given to them. After all, they are in the business of making and (unlike our city and state government) saving money. Instead, these Democrats should be pointing their fingers at the mayor and governor they endorsed and elected. (Read more from “Amazon HQ Will Cost New Yorkers $61,000 per Employee Thanks to Democrats’ Corporate Cronyism” HERE)
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