Speed Reads

never mind

Amazon drops plans for headquarters in New York City

Amazon announced on Thursday that it would no longer move forward with plans to build a second headquarters in New York City, The New York Times reports.

The campus, planned for Long Island City in Queens, faced opposition from local lawmakers, who expressed concern that the company would get significant subsidies in the deal. "We do not intend to re-open the HQ2 search at this time. We will proceed as planned in Northern Virginia and Nashville," said Amazon in a statement, referring to plans to build a campus in Crystal City, Virginia, and an operations center in Tennessee. "A number of state and local politicians have made it clear that they oppose our presence and will not work with us to build the type of relationships that are required to go forward with the project."

The company had promised to bring 25,000 jobs to the area, and was slated to receive $3 billion in state and city incentive packages. "For Amazon, the commitment to build a new headquarters requires positive, collaborative relationships with state and local elected officials who will be supportive over the long-term," read the statement. "We are disappointed to have reached this conclusion." Read more at The New York Times.