No, Amazon Didn't Just Rename a City 'National Landing.' Here's the Deal

L.A. loses bid for Amazon HQ2 and thousands of possible jobs. Here’s why some experts are relieved

That heated competition ended with the announcement Tuesday of two winners for the $5 billion development prize.

Each location will get 25,000 jobs with six-figure salaries.

Google, for example, is also planning a major expansion in NY.

Amazon today announced that it has selected New York City and Arlington, Virginia, as the location for its new headquarters, making official a choice that had been widely reported over the past week. Here are four areas to watch, according to economists and economic development experts.

This morning, Amazon announced a split HQ2, with 25,000 jobs in Northern Virginia and New York City. Kansas City Mayor Sly James wrote five-star reviews for 1,000 random items on Amazon's website; Tucson sent Amazon CEO Jeff Bezos a giant cactus; and Stonecrest, Georgia, offered to rename some of its land "the city of Amazon". In Arlington, Amazon is in line to receive $573 million, in exchange for delivering 25,000+ jobs. The Texan city had offered economic incentives worth up to $US1.1 billion ($US22,000 for each of the 50,000 jobs).

Amazon said it will spend $5 billion between both locations on construction and other projects. Pursuit will operate a job-training center at the site, the organization said.

"A little bit of sarcasm ... one person said they look forward to the coming gentrification", Bishop said.

The move will boost Amazon's presence around New York City and the nation's capital, while also giving it more of a foothold in the center of the country as it seeks to gain a recruiting edge over Silicon Valley tech companies. It prepares high school grads who have basic technical training for jobs as system administrators or cloud-computing specialists, said NPower Executive Director Helen Kogan.

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The bidding process, which began more than a year ago in September, netted 238 applications from cities, which eventually got narrowed down to 20 finalists.

The outcome "suggests that there were only two places they could go". That means tens of thousands of new residents in areas where housing supply is already tight.

Already, a NY state legislator has signaled he plans to introduce a bill to block the deal by phasing out the economic incentive statutes upon which the agreement is based.

In its proposal, viewed by FOX Business, Columbus proposed a 15-year, 100 percent property-tax abatement, 15-year, 35 percent income-tax refund and a brand-new transportation plan, if Amazon chose to build its second headquarters, dubbed HQ2, there.

For example, Amazon pledged to create space for a tech startup incubator, artist studios, and public open space.

It was reported late Monday by The Wall Street Journal that the online retailing giant had chosen New York City and northern Virginia for its planned second headquarters - dubbed HQ2. In addition, $28 million in future property taxes will be earmarked for improvements to the Amazon site.

The development projects, which could be announced as soon as Tuesday, promise to bring the cities a giant infusion of jobs and tax revenue, but are nearly certain to draw fire from critics concerned about their impact on infrastructure and property values. That's on top of the jobs that will be created by building the two headquarters (which Amazon says will cost $US5 billion). "We're well past that, and there's zero public justification for a package as rich as this".

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