Maryland makes $8.5 Billion Bid For Amazon HQ2

Among the 20 finalists for Amazon’s second headquarters, Rockville, Md. is in the lead in at least one category: the incentives package. Titled the PRIME Act, the Maryland legislature has approved a plan that provides “a Fortune 100 company” with a set of tax incentives based on the number of jobs created.

The Baltimore Sun reports House Majority Leader C. William Frick, a Democrat from Montgomery County, as saying that Amazon, “is the single most important company in the future economy,” and called the deal, “the single most important economic project” to ever come to Maryland. Republican Del. Robert B. Long says that, “This is a vote for the future of Maryland’s economy,” arguing that, “This is not corporate welfare. They have to give us jobs before they get anything. It’s a no-brainer.”

According to Construction Dive, the PRIME Act would mean that Amazon—whose membership program is not coincidentally called “Prime”—would get a $6.5 billion bundle of tax and other incentives, “if it submits to the state’s commerce department a plan for at least 17 years that involves a minimum of $4.5 billion in specified investments and the creation of at least 40,000 positions with an average salary of $100,000 each.” In addition, the legislature promised an additional $2 billion in road improvements around the new facility.

A study by the commerce department reports that Amazon’s second headquarters will contribute $17 billion annually to the location state’s economy, as well as $8 billion in annual wages for the estimated 50,000 new employees. That’s on top of Amazon’s initial $5 billion investment. While many may still consider $6.5 billion in incentives to be corporate welfare—especially for a company the size of Amazon—proponents prefer to view it as an investment with some very significant and practically certain positive returns.

Follow us on social media for the latest updates in B2B!

Latest

Public Libraries are Protecting Against Censorship and Introducing E-Sports
January 27, 2023

Within the last six to eight years, what qualifies as fact-based information has been challenged by several political groups and debates. Advocacy for censorship has been on the rise; this is especially true for young adult books involving LGBTQ+ themes and books centering around people of color. While censorship demands were predominately held in […]

Read More
SmartSky Receives Supplemental Type Certificate for Dassault Falcon 900 Aircraft
January 27, 2023

Research Triangle, NC – January 17, 2023 – SmartSky Networks, the leading provider of inflight air-to-ground (ATG) connectivity for business aviation, today announced the completion of an STC for the installation of SmartSky’s flagship hardware system on the Dassault Falcon 900 series aircraft. The Falcon 900 series, with more than 400 aircraft in service, joins a […]

Read More
Let’s Talk About AV as a Service
January 27, 2023

— AVaaS, or AV as a Service, is the future of the audio visual industry. However, the conversation around this shift has been an awkward one, and it’s time to call out the elephant in the room. The industry has largely excluded the end user and buyer communities from this conversation, but it’s important […]

Read More