Tuesday, November 13, 2018


The absurd thing is that NYC is rather a large place and 25,000 jobs is basically measurement error in the monthly employment stats. Again, that many jobs in a small location might have a great impact (likely bad, at least for existing residents given the current state of NYC's housing and transportation) on that particular location and related transportation links, but the idea that anyone in NYC or NYS could argue that 25,000 jobs in a city of 9 million is... important... and worth all those subsidies is ridiculous.

Under the agreement, first announced by Amazon in a blog post, the company would receive performance-based direct incentives of $1.525 billion based on the company creating 25,000 jobs in Long Island City, most of which come from a state tax credit. “Amazon will receive these incentives over the next decade based on the incremental jobs it creates each year,” th[e] company wrote.

That's a minimum subsidy $ as there will be many other pots of money for them to puts their hands in.