Memphis Going Full Speed Ahead Pursuing Amazon’s Second Headquarters
Amazon recently announced plans to open Amazon HQ2, a second company headquarters in North America.
The Memphis City Council, on Tue., Oct. 3, 2017, has empowered EDGE and the Mayor to go full speed ahead in pursuit of Amazon’s second headquarters.
Memphis’s incentive package to draw the second Amazon headquarters in North America includes: A 20-year PILOT from Memphis for their potential headquarter site(s); incentives from the state of Tennessee: largely still to be determined, but including cash incentives, tax breaks, and the authority to extend that 20-year PILOT to 30 years; $5,000 incentive per job created once at least 2,500 have been created that have a minimum average salary greater than or equal to $60,000 (excluding benefits), with a maximum cash payment over 15 years of $50 million; and a promise to invest at least $10 million locally in our workforce readiness through WIN, in public transportation through MATA, and in our airport through the Airport Authority
Amazon expects to invest over $5 billion in construction and grow this second headquarters to include as many as 50,000 high-paying jobs. In addition to Amazon’s direct hiring and investment, construction and ongoing operation of Amazon HQ2 is expected to create tens of thousands of additional jobs and tens of billions of dollars in additional investment in the surrounding community. Amazon is opening the Amazon HQ2 Request for Proposal (“RFP”) now, and local and state government leaders interested in learning more about how they can bring Amazon to their community can visit www.amazon.com/amazonHQ2.
Amazon estimates its investments in Seattle from 2010 through 2016 resulted in an additional $38 billion to the city’s economy – every dollar invested by Amazon in Seattle generated an additional 1.4 dollars for the city’s economy overall.
With more than 380,000 employees worldwide, Amazon ranks #1 on Fast Company’s Most Innovative Companies, #2 on Fortune’s World’s Most Admired Companies, #1 on The Harris Poll’s Corporate Reputation survey, and #2 on LinkedIn’s U.S. most desirable companies list. Amazon was also recently included in the Military Times’ Best for Vets list of companies committed to providing opportunities for military veterans.
“We expect HQ2 to be a full equal to our Seattle headquarters,” said Jeff Bezos, Amazon founder and CEO. “Amazon HQ2 will bring billions of dollars in up-front and ongoing investments, and tens of thousands of high-paying jobs. We’re excited to find a second home.”
In choosing the location for HQ2, Amazon has a preference for: metropolitan areas with more than one million people; a stable and business-friendly environment; urban or suburban locations with the potential to attract and retain strong technical talent; communities that think big and creatively when considering locations and real estate options.
HQ2 could be, but does not have to be: an urban or downtown campus; a similar layout to Amazon’s Seattle campus; a development-prepped site.
Amazon encourages states and communities to think creatively for viable real estate options, while not negatively affecting our preferred timeline.
Amazon HQ2 will be a complete headquarters for Amazon – not a satellite office. Amazon expects to hire new teams and executives in HQ2, and will also let existing senior leaders across the company decide whether to locate their teams in HQ1, HQ2 or both. The company expects that employees who are currently working in HQ1 can choose to continue working there, or they could have an opportunity to move if they would prefer to be located in HQ2.
To learn more about Amazon’s current Seattle headquarters, plans for Amazon HQ2, and to submit a proposal, visit www.amazon.com/amazonHQ2.