Why an Amazon job costs New York more than Virginia

Why an Amazon job costs New York more than Virginia

5 years ago
Anonymous $L9wC17otzH

https://finance.yahoo.com/news/amazon-job-costs-new-york-virginia-164110672.html

Why is New York paying more? A large chunk of its incentive package comes from the state’s Excelsior Jobs Program, which will provide up to $1.2 billion in tax credits to Amazon over the next 10 years. The program has been providing job creation and investment incentives to firms in certain industries when they come to New York State. Since Excelsior launched in 2010, it has granted $121.7 million in tax credits to 157 companies (as of June). " data-reactid="29">Why is New York paying more? A large chunk of its incentive package comes from the state’s Excelsior Jobs Program, which will provide up to $1.2 billion in tax credits to Amazon over the next 10 years. The program has been providing job creation and investment incentives to firms in certain industries when they come to New York State. Since Excelsior launched in 2010, it has granted $121.7 million in tax credits to 157 companies (as of June).

Amazon (AMZN) is poised to be the biggest beneficiary from the program for the scale and high pay it vows to offer. “It’s just rare for companies to create this amount of jobs with relatively high wages. That’s why the price tag is so big,” said Joseph Parilla, a fellow at the Brookings Institution’s Metropolitan Policy Program." data-reactid="30">Amazon (AMZN) is poised to be the biggest beneficiary from the program for the scale and high pay it vows to offer. “It’s just rare for companies to create this amount of jobs with relatively high wages. That’s why the price tag is so big,” said Joseph Parilla, a fellow at the Brookings Institution’s Metropolitan Policy Program.

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