Seattle is proposing to levy a tax on local employers that make $20 million or more in taxable gross receipts. Amazon has announced that it is pausing further construction planning of a building to be built in downtown Seattle and is reconsidering plans to occupy a building that is already built, potentially jeopardizing 7,000 new jobs.
On the other hand, 238 metropolitan areas recently proposed a wide range of tax and other incentives in an effort to entice Amazon to build a second corporate headquarters, which could create up to 50,000 new jobs, in their community. Amazon has narrowed the list to 20 possible sites, with a final decision likely before the end of 2018.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA