New York officials say their deal to land a new Amazon headquarters is a big win for the city, but the math is a little more complicated than government projections indicate.
New York officials tout their deal to land a new Amazon headquarters as can’t-miss math. The city and state put up US$2.8bil (RM11.6bil) in tax breaks and grants. In return, they get an economic engine expected to generate US$27bil (RM112bil) in new tax money over a quarter-century.
“This is a big moneymaker for us. Costs us nothing,” Gov Andrew Cuomo said when the agreement was announced.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
