Bidding high is worth the risk to win Amazon's second headquarters

Tuesday, 17 October 2017, 11:58:53 PM. Ever want something so badly you were willing to pay much more than anyone else? Think Chicago and Amazon's HQ2.
Ever want something so badly you were willing to pay much more than anyone else? For those hoping to bring ’s second headquarters to Chicago, that’s probably the mindset. Yes, bidding high is a risk worth taking by Mayor , Gov. Bruce Rauner and other government and business leaders, who are backing the Chicago area in a nationwide competition to become the site for Amazon’s HQ2. Capturing the Seattle-based company’s second headquarters would be transformative, creating thousands of good-paying jobs while making Chicago a technology and new economy leader. Chicago submitted its opening bid Monday and all bids are due Thursday. But this is a high-stakes game, so get ready, fellow taxpayers, because any government-backed Amazon invitation is going to be a whopper — a bid likely worth many billion of dollars in tax incentives, infrastructure investments and maybe some perks not considered yet. Amazon, which in September started the nationwide competition for HQ2, knows it’s in the catbird seat and will press its advantage. Over the past couple of years, the expanding e-commerce company has gained a reputation for adeptly pressuring state and local government for tax breaks in return for opening new distribution, fulfillment and other facilities. In Illinois, for example, Amazon has qualified for at least $80 million in state-backed incentives over 10 years for opening nine facilities that will employ up to 9,000 workers. Judging by what’s occurring these days with other smaller...Read more
Share this

You might also like