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Tears, joy as Amazon backs out of plans for HQ2 in NYC
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US e-commerce giant Amazon’s decision to pull out of a planned corporate campus in New York City might have come as a victory for those who strongly opposed its presence, but some argue that it’s a major loss for the city in the long run.
In an unexpected announcement, the Seattle-based company said late last week it would not build a new headquarters in Long Island City due to opposition from “some state and local politicians.” Amazon said it made the decision “after much thought and deliberation.”
“I think it’s a shocker for everybody, particularly in New York,” said David Reibstein, a marketing professor from Wharton School of the University of Pennsylvania.
Reibstein, who has been following the issue closely, said he believes the strong resistance in New York came from some politicians and residents who argue that the reportedly US$3 billion in incentives were unnecessary.
Labor unions regarded Amazon as “a hard negotiator.”
The company’s new headquarters plan has drawn a backlash since November, when it announced its decision to split its new headquarters between Long Island City in the New York City borough of Queens and Crystal City, Arlington County in the state of Virginia.
‘Narrow interests’
Alexandria Ocasio-Cortez, who represents the Bronx and Queens in the US House, has been one of the most vocal critics.
She didn’t refrain from expressing her joy shortly after Amazon’s announcement.
“Today was the day a group of dedicated, everyday New Yorkers & their neighbors defeated Amazon’s corporate greed, its worker exploitation, and the power of the richest man in the world,” she tweeted.
New York State Governor Andrew Cuomo didn’t share Ocasio-Cortez’s sentiments. In a statement, the governor denounced the New York State Senate, saying that they should be “held accountable for this lost economic opportunity.”
“A small group of politicians put their own narrow political interests above their community... the state’s economic future and the best interests of the people of this state,” Cuomo said.
Reibstein said he also believes Amazon’s retreat would be “a huge loss” for New York, he said.
“The 25,000-plus high-paying jobs, considerable tax revenues, all the auxiliary businesses and the image of New York being even more of a ‘tech hub’ are among the benefits that the city won’t be able to enjoy.”
The US online retail powerhouse employs over 5,000 people in Brooklyn, Manhattan, and Staten Island in New York City.
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