1. News
November 14, 2018updated 02 Nov 2021 9:50am

Amazon to invest $5bn on new headquarters in New York and Virginia

Online retailer Amazon is set to invest $5bn in two new headquarters in the US.

Online retailer Amazon is set to invest $5bn in two new headquarters in the US.

The company has selected New York City and Arlington, Virginia as the locations for the new headquarters.

More than 50,000 jobs are expected to be created across the two headquarters locations, which will join the company’s current North American headquarters in Seattle.

Amazon founder and CEO Jeff Bezos said: “We are excited to build new headquarters in New York City and Northern Virginia.

“We are excited to build new headquarters in New York City and Northern Virginia.”

“These two locations will allow us to attract world-class talent that will help us to continue investing for customers for years to come. The team did a great job selecting these sites, and we look forward to becoming an even bigger part of these communities.”

To be located in the Long Island City, the New York City headquarters will see approximately $2.5bn investment from the company creating 25,000 full-time jobs. The HQ will feature four million square feet of office space.

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The company will receive $1.525bn as performance-based direct incentives for job creation in Long Island City.

The incentives include $1.2bn from New York State’s Excelsior Programme to support Amazon in paying employees over the next ten years and a cash grant of $325m from Empire State Development in the next ten years.

The Arlington headquarters will be located in National Landing near Washington, D.C. The company will also create 25,000 full-time jobs at this location, for which, it will receive performance-based direct incentives of $573m with an average wage of over $150,000 per job.

The Commonwealth of Virginia will offer up to $550m in workforce cash grant for the jobs over the next 12 years and Arlington will offer a $23m cash grant over 15 years.

Furthermore, Amazon will also open a new centre of excellence for its operations business in Nashville, Tennessee, in a move to support customer fulfilment, transportation, supply chain, and other similar activities of the company.

The facility will see an investment of more than $230m from the company, the creation of over 5,000 jobs and will feature one million square feet of office space.

Amazon will receive up to $102m performance-based direct incentives for creating 5,000 jobs.