Emily GirschJul 12, 2018, 2:16 pmJul 12, 2018, 2:18 pm

City leaders in Newark authorize $2B bid for Amazon’s 2nd HQ

Study says new location will create more than 12K jobs, increase household earnings by $1.2B


NEWARK – This week Newark lawmakers authorized using up to $2,000,000,000 to bid for Amazon’s second headquarters. A study by the Anderson Economic Group Reports that in addition to creating more than 12,000 jobs for residents, a Newark headquarters would also increase household earnings by $1,200,000,000 billion annually starting in 2035.

By 2035, the headquarters would have a combined fiscal impact of $41,000,000 on the city of Newark, its public schools and public library, collectively.

Amazon's main headquarters is in Seattle but 20 cities in the United States are up for consideration for a second location.

Newark city council approved a payroll tax exemption for any corporate headquarters that intends to create 30,000 jobs in the city and invest 3,000,000,000 over 20 years.

Former Governor Chris Christie and state legislative leaders said they would offer Amazon tax breaks worth $7,000,000,000 over the next decade if the company decides to build in Newark.

Of all the cities bidding on the project, Newark is offering the largest tax incentive package.

Governor Phil Murphy has said he supports Mayor Ras Baraka's push for the bid.

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Jersey City, New Jersey