Another State Enters Ring to Win Amazon HQ

According to project developer Lotus Equity, the proposal outlines the redevelopment of Newark’s riverfront for HQ2, Business Insider reported.

Wed October 18, 2017 - National Edition
Emily Buenzle

According to Amazon, its new HQ2 will bring about 50,000 jobs and $5 billion in construction to the location it chooses, and with its proposal deadline just a day away on Oct. 19, Newark, N.J. has slid in just in time, Business Insider reported.

As the deadline for proposal submittals draws near, New Jersey has jumped into the fight for Amazon's second headquarters.

Amazon has indicated that among other factors, it will be looking at the incentives an area can offer when deciding which location it should ultimately choose. Gov. Chris Christie's office said in a statement Oct. 16 that the Christie would like to offer $7 billion in possible tax incentives for Amazon if it chooses Newark as its second home. This would include the expansion of Grow NJ, a subsidy program, and would raise the cap on subsidies from $5,000 to $10,000 for every job the company creates, Business Insider reported. According to the Observer, the incentives could climb as high as $5 billion over the next 10 years, with the rest of the tax breaks coming from:

$1 billion in a city property tax subsidy, and

$1 billion waiver on wage taxes over 20 years for Amazon employees.

According to project developer Lotus Equity, the proposal outlines the redevelopment of Newark's riverfront for HQ2, Business Insider reported. However, the revitalization of the area will occur if Amazon chooses that site or not. The extensive project covers more than 11 acres of property in the city's downtown area, and has been designed by four architecture firms. The plans include:

1,800 housing units

a 150,000-sq.-ft. hotel

retail space measuring 100,000 sq. ft.

a 30,000-sq.ft. food hall

30,000 sq. ft. of public space

as many as 3,000 packing spots

up to 2 million sq. ft. of commercial space, and

the demolition of the old New Jersey Bears stadium.

Lotus Equity has not yet said when it will break ground, Business Insider reported.

Today's top stories

Charlotte's Airport Adds $1B Fourth Parallel Runway

Shelly & Sands Aims to Relieve Congestion at 'The Point' in Ohio

ABC: Georgia Is Number One State for Construction

ASV Bolsters Forestry, Construction, Landscaping, Snow Clearing Attachment Lineup

AEM Welcomes 2024 Officers, New Directors at Annual Conference

West Side Tractor Receives National Women's Business Enterprise Certification

Work to Soon Begin On 58-Story Residential Tower Along Jersey City's Waterfront

Ferronordic Acquires Volvo CE Dealer Rudd Equipment

Related...

Amazon New Jersey

Read more about...

Amazon New Jersey

Our Main Office

Construction Equipment Guide
470 Maryland Drive
Fort Washington, PA 19034
800-523-2200

About Us

Construction Equipment Guide covers the nation with its four regional newspapers, offering construction and industry news and information along with new and used construction equipment for sale from dealers in your area. Now we extend those services and information to the internet. Making it as easy as possible to find the news and equipment that you need and want.

Contents Copyrighted 2023, by Construction Equipment Guide, which is a Registered Trademark, registered in the U.S. Patent Office. Registration number 0957323. All rights reserved, nothing may be reprinted or reproduced (including framing) in whole or part without written permission from the publisher. All editorial material, photographs, drawings, letters, and other material will be treated as unconditionally assigned for publication and copyright purposes and are subject to Construction Equipment Guide’s unrestricted right to edit and comment editorially. Contributor articles do not necessarily reflect the policy or opinions of this publication.

Read our privacy policy here.
Mastodon

39.04690 \\ -77.49030 \\ Ashburn \\ PA