Hundreds of Communities Anticipated to Pitch Propositions Competing for $5 Billion Economic Advancement Reward
Today is the last day for neighborhoods to send propositions for among the largest economic development ever provided: Amazon’s bid for a brand-new co-headquarters website. Hundreds of communities, cities and even states are expected to pitch the online retail giant on the benefits of their particular areas prior to the clock strikes midnight in Seattle.
The company is looking for sites in significant North American cities for a “full equal” to its Seattle head office, dubbed Amazon HQ2. The online retailer expects to invest over $5 billion to construct and operate its brand-new co-headquarters, which it stated might consist of as many as 50,000 high-paying jobs.
In addition, Amazon HQ2 is anticipated to produce 10s of thousands of additional jobs and 10s of billions of dollars in additional financial investment in the surrounding neighborhood.
With those bids will come pitches for potentially thousands of advancement websites that communities will be offering as possible head office website. One city’s pitch supposedly weighed in at 32 pounds of paper.
Even cities that do not fulfill Amazon’s minimum stated requirement of having more than 1 million individuals are submitting propositions. New Hampshire, whose biggest city is Manchester with 110,500 people, submitted a proposition yesterday touting the combined strength of the state. It entitled its proposal “All the Benefits of Boston Without All the Headaches.”
For HQ2, New Hampshire is proposing the Woodmont Commons in Londonderry, a single owner, city town, website already zoned. The 603-acre shovel-ready greenfield site began in August 2017. The website is 10 minutes from Manchester/Boston Regional Airport, 50 minutes to from Boston Logan International Airport, and within 30 miles of 1.7 million people.
Pennsylvania Gov. Tom Wolf spearheaded his state’s efforts even launching an Amazon-in-PA site.
The guv’s efforts led to cumulative letters of support and materials from Pennsylvania’s congressional leaders, cabinet authorities describing the administration’s efforts and historic financial investments in education, workforce advancement, company advancement, and transport, college advocates representing more than 360 postsecondary institutions.
It’s hard to envision any state being on the outside of the bidding effort. The outcome will be a huge amount of market data and demographics that Amazon will be putting through in the coming months. The online merchant has said it will likely not reveal a choice up until next year.
As we have considering that Amazon’s announcement last month, CoStar Group will keep you evaluated of continuous advancements at the same time. You can check out our previous coverage and market analysis of possible city locations at the following links: