Listen Now: Bidding for Amazon
Right now cities all over the country are hoping to win over the online retailer which along with a new headquarters is promising to bring 50,000 new jobs and a $5 billion investment. And some cities are going all out.
Frisco, Texas a city of just over 160,000 people is pledging to center its entire city around the new headquarters. Philadelphia is pledging the use of three different sites which would collectively span 28 million square feet. Cities including Dallas and Phoenix are offering the company complete use of vacated shopping malls.
Then there are the financial incentives. New Jersey officials say they would offer Amazon $7 million dollars in tax breaks over the next ten years. Not to be outdone Memphis officials say they will provide $60 million dollars in tax incentives if the company decides to move in. It’s the biggest corporate civil proposal in recent history; now we just have to wait and see how this love story will end.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.