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Cities Race for Amazon's second "head quarters"

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1 hour ago, LLandryistheshiz said:

Virginia Tech is opening a new Engineering Grad school in that area now, and they’ve partnered with Amazon to make it happen. 

 

I’ve heard Amazon thinks VT is in line to be next MIT; think very highly of the talent there. Makes sense for them to build a direct pipeline 

 

Right and that by itself is worth it to me. 

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Others have said it, but these incentives are very thoughtful and intentional and should have been done regardless, but Amazon is the easy impetus that allows/justifies the high-spend, because it's mutually beneficial for all parties and Amazon locating to NoVa will generate loads and loads of tax revenue.

 

Just from a first blush, 25,000 jobs at $150,000 per year at 5.8% personal income tax (Top Virginia rate) is $220 million per year at full build-out. And that's just from the taxes the employees will pay directly, not what Amazon would pay in employer income tax ... or any of the ancillary and ripple effects (spending, food tax, etc.) that comes from the existence of 25,000 employees in Nova, or the commercial tax revenues the County will collect through new apartments, office buildings, etc.

Edited by JamesMadisonSkins
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4 hours ago, LLandryistheshiz said:

Virginia Tech is opening a new Engineering Grad school in that area now, and they’ve partnered with Amazon to make it happen. 

 

I’ve heard Amazon thinks VT is in line to be next MIT; think very highly of the talent there. Makes sense for them to build a direct pipeline 


VT as a state school is never going to be MIT.   Although it could be the next Cal-Berkeley 

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When a company says "average salary is...." as opposed to "median....."

 

If 150,000k is the average salary does that mean it is the average salary for the entire work force or does it mean more that the building managing partner is making 250k, and the workers are making 50k and then they factor the average from that raw number instead of how many people there are making each individual salary?

 

Because I thought the term median as opposed to average, was a more accurate look at what most workers would be making.


Am I wrong? Maybe I am just understanding things wrong?

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@NoCalMike it’s referring to the total sum of salaries divided by number of workers. From my experience with companies in this area, particularly in tech, I think most entry level will be around 75-90 with mid level being 120-150 and management and higher skilled tech workers making 250k+ Fairly easily. Executives will be in the millions of dollars. Which def skews the number up, but you’d be shocked by what the average tech worker makes in Arlington. I know guys in their mid to late 20’s cracking 140k

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Amazon has cancelled HQ2 plans in NYC, citing resistance from local politicians. 

 

Still moving forward with Arlington, VA.

Edited by No Excuses

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On 11/15/2018 at 2:30 PM, PleaseBlitz said:

 

I'm sure it's more than that...

 

Cornell - https://www.sce.cornell.edu/ss/courses/off/ciw.php

 

Plus you are correct, there are even more that are not top tier, e.g. OU - https://pacs.ou.edu/military/military-student-services/ou-north-america/ou-north-america-washington-dc/

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1 hour ago, No Excuses said:

Amazon has cancelled HQ2 plans in NYC, citing resistance from local politicians. 

 

Still moving forward with Arlington, VA.

I consider myself liberal (mainly socially). But AOC and the NY politicians on the ground that rallied against this are idiots. I have worked in this field in NY and now here. NYC and NYS were due to get $27 billion in net new tax revenue over th course of the next 15 years. At a cost of $3 billion in offsets.

 

these politicians are literally now talking about what they can spend the $3 billion on now. No... guys ... that isn’t $3b that you spent. It was offsets for a $27 billion revenue stream you are now no longer going to receive. Good lord.

 

We are gonna be reaping the benefits of this for a generation. Now we can at least say we won HQ2 

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22 minutes ago, JamesMadisonSkins said:

I consider myself liberal (mainly socially). But AOC and the NY politicians on the ground that rallied against this are idiots. I have worked in this field in NY and now here. NYC and NYS were due to get $27 billion in net new tax revenue over th course of the next 15 years. At a cost of $3 billion in offsets.

 

these politicians are literally now talking about what they can spend the $3 billion on now. No... guys ... that isn’t $3b that you spent. It was offsets for a $27 billion revenue stream you are now no longer going to receive. Good lord.

 

We are gonna be reaping the benefits of this for a generation. Now we can at least say we won HQ2 

 

I see both sides of the argument on this. But at the end of the day, it’s flat out ridiculous to give such a massive tax break to a company owned by the wealthiest man in the world. 

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@No Excuses

 

It’s a publicly traded company that would be doing its shareholders a disservice by not going for incentives. But I understand your issue with it. But the fact remains that amazon is going to generate billions upon billions in direct (and many more indirec) over the next 15+ years for Virginia. Giving $750 million of that back over time is peanuts. 

 

Until congress eve passes legislation to make economic incentives illegal, it’ll continue to happen. And I’ll bang the drum for the NoVa package being one of the most innovative incentives when it comes to community/education and infrastructure investments for the good of the entire region

Edited by JamesMadisonSkins

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4 minutes ago, No Excuses said:

 

I see both sides of the argument on this. But at the end of the day, it’s flat out ridiculous to give such a massive tax break to a company owned by the wealthiest man in the world. 

 

Does whether you profit not matter?

I get hating the rich, but they are gonna be rich with or w/o you 

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