Friday, January 19, 2018

Amazon's "race to the bottom"

It is Amazon's "race to the bottom" Amazon announced its search in September, promising to bring 50,000 jobs to the city it chose for its headquarters,

Tax breaks to Amazon promised by New Jersey: $7 billion. Tax breaks promised by Illinois: $2 billion. Boston offered $75 million to provide affordable housing to Amazon employees, while Maryland's offer exceeded $5 billion. Houston's subsidy is $268 million.

"More than 15 states and cities, including Chicago, Cleveland and Las Vegas, refused requests from The Associated Press to detail the promises they made to try to lure the company, " reports the AP.

1 comment:

ajohnstone said...

New York gave a $258-million subsidy to Yahoo and got 125 jobs -- costing taxpayers $2 million per job.
Oregon awarded $2 billion to Nike and got 500 jobs -- $4 million per job.
North Carolina shelled out $321 million to Apple and got 50 jobs -- $6.4 million per job.
Louisiana handed $234 million to Valero Energy and got 15 jobs -- $15.6 million per job.

At the end of 2015Amazon employed 146,000 people in its U.S. operations, but -- ooops -- they calculated that his taxpayer-supported behemoth had meanwhile eliminated some 295,000 U.S. retail jobs.