Published: Tue, November 06, 2018
Business | By Tara Barton

Amazon plans to split HQ2 evenly between two cities

Amazon plans to split HQ2 evenly between two cities

Amazon has fuelled an economic boom in its hometown of Seattle, where it is also often blamed for traffic problems and skyrocketing housing costs that squeeze some residents out of the city.

And now it ends up Amazon may decide on creating an HQ2 and HQ3.

- Amazon plans to split its new second headquarters into two locations, according to a report from the Wall Street Journal. The company fueled excitement in its plans by inviting cities to pitch themselves as sites for the development.

The Journal reported that the surprise decision is "driven by the need to recruit enough tech talent and to support Amazon's growth".

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"You could look to Seattle and see that it's had great positive consequences, but it also probably has had some unintended ones that maybe aren't as well received", SunTrust Robinson Humphrey Inc. real-estate analyst Michael Lewis said. Two of the biggest known packages include Montgomery County, Maryland, which offered $8.5 billion in incentives, and Newark, New Jersey, which offered $7 billion. However, the company is not exactly denying the report's accuracy.

The company is so close to making its choice that Crystal City's top real estate developer, JBG Smith, has pulled some of its buildings off the leasing market and officials in the area have discussed how to make an announcement to the public this month.

The source said that the winning cities have not been selected but The Journal reported Sunday that Amazon was in final discussions with Northern Virginia, Dallas, and New York City. "HQ2 and HQ2.1? Or HQ2A and HQ2B?"

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