Discover and read the best of Twitter Threads about #HQ2
Most recents (10)
Here’s a summary thread of just-released research by myself and @JohnMoz at @AccountableEcon.
In short, as part of a COVID-19 bailout Congress should mandate that states end their economic development arms race.
mercatus.org/system/files/f…
In short, as part of a COVID-19 bailout Congress should mandate that states end their economic development arms race.
mercatus.org/system/files/f…
State and cities will likely see a budget shortfall of $950+ billion. House Democrats already passed a $1 trillion relief bill, but Republicans aren’t eager to rescue states from self-imposed fiscal difficulties. A ban on subsidies offers an easy starting compromise.
The idea is not controversial; many state and local policymakers already want to end what amounts to a subsidy arms race. The problem is that no one wants to be seen as unilaterally disarming:
Here we go! Live tweeting the @PBS @frontlinePBS documentary on Amazon, "Amazon Empire" #frontlinePBS — watch at pbs.org/wgbh/frontline…
"Big things start small" — can't deny it, Bezos has long-term vision & a gift for storytelling. #frontlinePBS
Predictions are useless but predicting is invaluable (scenario planning)
— @profgalloway #2020predictions
— @profgalloway #2020predictions
#Snap is less corrosive / damaging to teens
#Tesla trades at 3x the value of auto companies, worth more than Ford & GM combined, dramatically overvalued
#SherylSandberg 2nd best paid person who does the most damage (after Zuck)—she's erased from FB like Trotsky from photos
#Tesla trades at 3x the value of auto companies, worth more than Ford & GM combined, dramatically overvalued
#SherylSandberg 2nd best paid person who does the most damage (after Zuck)—she's erased from FB like Trotsky from photos
#NavyHill, #6thStreet, #StoneBrewing, #Redskins - why does it seem like the city is always involved in a “big shiny project”? Why the same developers, law firms, wealthy elites? Why always #RVA Voldemort Tom Farrell? Social science has answers - 4 of them.
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1st: LOCAL POLITICS ALWAYS ABOUT LAND USE. Paul Peterson notes cities try to "enhance economic position" - basically need to expand tax base to do more stuff for citizens. Main tool? LAND USE - zoning, development incentives, etc.
press.uchicago.edu/ucp/books/book…
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press.uchicago.edu/ucp/books/book…
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2nd: This means PROPERTY INTERESTS DOMINATE. Landowners want economic development to ensure that their property values go up; city leaders need these owners/developers to grow tax base
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THREAD: We’re excited to announce the launch of the Struggling Regions Initiative, in partnership with the @RockefellerFnd, to delve into the issues facing struggling regions across the U.S. and will develop new ideas to foster broader economic growth. strugglingregions.com 
@RockefellerFND While a select few metropolitan areas are seeing massive growth, the rest of the country is experiencing stagnation and decay. Take the following stats:
(1)Over half of total U.S. GDP is produced by only 20 metropolitan areas. (2) The New York metropolitan area alone accounts for over 10 percent of the nation's output in any given year, and with only 6% of its population.
1/ I'm sorry to hear Amazon and Long Island City are breaking up. It seemed like it could have been a very interesting development. Now, however...
2/ Amazon should locate 10,000 to 15,000 employees in Port Covington, Baltimore.
3/ Port Covington is 42.5 miles from #HQ2 in Crystal City, VA.
Guess what @andrewcuomo? We're not going to stop criticizing your deal with Amazon.
You're giving up billions of dollars and thousands of affordable housing units in America's most expensive city, for a corporate investment that will have no meaningful impact on your state.
You're giving up billions of dollars and thousands of affordable housing units in America's most expensive city, for a corporate investment that will have no meaningful impact on your state.
Maybe if Amazon built #HQ2 in say, Troy, rather than Queens, and actually revitalized a metro area that needs more jobs, and if you demanded a clawback provision and effective oversight, I'd be on board with incentives, @andrewcuomo.
As it is, the deal makes no sense for NY.
As it is, the deal makes no sense for NY.
The problem, @andrewcuomo, is that you learned absolutely nothing from the failure of START-UP NY.
If you give businesses an open-ended tax break and don't actually require them to *do* anything substantial as a condition of getting the money, what is the damn point?
If you give businesses an open-ended tax break and don't actually require them to *do* anything substantial as a condition of getting the money, what is the damn point?
New York is giving Amazon a tax subsidy of $48,000 per job plus a straight $325 million cash grant. Plus other incentives.
Also looks like Amazon is now predatory pricing to kill UPS and Fedex. Classic monopolizing technique. cnbc.com/2018/11/09/ama…
This is my favorite subsidy for Amazon. Small, but humiliating. "The company will also receive a cash grant from Arlington of $23 million over 15 years based on the incremental growth of the existing local Transient Occupancy Tax, a tax on hotel rooms."
Amazon’s decision to take #HQ2 to D.C. and NY is about enveloping government and media, the two primary checks on concentrated power in a democracy.
It’s decision to also go to Nashville is about deflection. 1/
It’s decision to also go to Nashville is about deflection. 1/
Jeff Bezos’s intention is to usurp the authority of government: to set the rules by which other firms are allowed to trade and to levy a tax on their trade. 2/ See: thenation.com/article/amazon…
Bezos also intends to assume control of the government’s data and spending. Already #Amazon hosts a lot of federal data. It also controls the purchasing of many government agencies, all the way down to your local school district. 3/ See: ilsr.org/release-amazon…
The big prize #Amazon has gotten out of its #HQ2 stunt is not the PR value of a bunch of city leaders singing its praises, or even the billions of $ in subsidies that it will extort from public coffers.
It’s the data. 1/
It’s the data. 1/
Dozens of cities have shared reams of data with Amazon that their own citizens do not have access to. This includes intel on future infrastructure investments, land use patterns, planned policy changes, and so on. 2/
Amazon will use this data to build out its empire: To site stores, warehouses, etc. To get in early on the right real estate. To beat out competitors because it knows things they don’t. 3/
