Public Spending, Economic Opportunity for All
NJ Spotlight: With Amazon HQ2 Not Likely to Land in Newark, Talk Turns to Taxes, Incentives
Although it hasn’t been officially announced, it appears that Amazon has chosen to split its East Coast headquarters between New York’s Long Island City and Northern Virginia — leaving Newark as an also-ran in the closely watched competition.
Nevertheless, Gov. Phil Murphy and other New Jersey officials believe the state has already benefited by having Newark listed among the top 20 finalists that were announced earlier this year, bringing invaluable attention to the city’s ongoing revitalization. The Garden State could also profit indirectly by having residents within close commuting distance of some of the new Amazon offices if they end up in Queens. And some wishful thinkers still believe Newark may not be altogether out of the running for a small slice of the action.
Meanwhile, Amazon’s prolonged site-selection process has also rekindled a debate about the role that taxes — and corporate-tax incentives — play in the broader competition among states when it comes to landing the biggest corporate fish.
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