In order to be chosen as the venue for Amazon’s second headquarters, D.C. government offered the retail company an incentive package of $1 billion over 16 years in addition to other benefits like single-day permits.
On Monday, D.C. government released an unredacted version of its submission for attracting Amazon’s HQ2. The submission details tax laws based on tax breaks in existing law of Qualified High Technology Companies act.
D.C. put forth a number of tax and cost exemptions to the company which will be credited or reduced between $488 million and $1.053 billion through 2034.
The submission has a photo of the D.C. streetcar on its cover and notes that the incentive exists in the tax code of DC, ruling out uncertainty from long legislative process.
D.C. had proposed four sites for hosting Amazon’s second headquarters, which included Anacostia riverfront, The Yards, NoMa-Union Station, Hill East and Shaw-Howard University. Amazon selected D.C. in the shortlist, also including Montgomery County, and Northern Virginia which was the ultimate winner.
Here are the tax incentives DC used to try to attract Amazon: https://t.co/DAlDbjLOiP https://t.co/S3uSBNXh4N
— Greater Greater Washington (@ggwash) November 20, 2018
D.C. had also included a “permit-in-a-day” in the incentive package for Amazon, apart from offering an Amazon Ambassador in the office of Mayor, a vehicle fleet, and a $200 million yearly investment in affordable housing which was double than what D.C. Mayor had already committed. An “Amazon University” with tailored programs from prestigious universities was also promised in the incentive package.