Amazon’s Virginia HQ2 Project Receives First Incentive Funds

by Ethan Kim
0 comment

Amazon, a tech giant company, is asking Virginia for $153 million in money as an incentive payment. This payment was promised to them since 2018 when they announced they were building their headquarters in the state. They have also paused work on their planned Pen Place development with a 350 foot tall helix-shaped tower.

Amazon recently asked for a $152.7 million grant from the state of Virginia. Once granted, it would mean 25,000 jobs to go to Arlington County by 2038 and Amazon will get $22,000 for each job created.

Amazon has said that, by the end of 2022, it will have created 6,939 jobs which qualify for a special cash reward. The company also stated that these jobs pay an average salary of over $157,000 every year, which is another requirement of the incentive package.

Amazon had planned to employ 5,000 people at its new headquarters by now. Even though the work was paused last month, it is still ahead of their original timeline.

Amazon previously said they have 8,000 jobs linked to its HQ2 project. However, the application document states that some of those employees live outside the region or perhaps haven’t moved to Virginia yet. Amazon is still sure it will make 25,000 jobs available by 2038.

The company said in its application, “Our plan to bring 25,000 jobs to HQ2 is still going strong and we won’t change it”.

State economic development officials are reviewing the agreement now. If everything is approved, the money wouldn’t be paid till July 2026.

The project has used $600 million to do lots of construction projects, providing jobs for over 9,000 people.

You may also like

Leave a Comment


BNB – Big Big News is a news portal that offers the latest news from around the world. BNB – Big Big News focuses on providing readers with the most up-to-date information from the U.S. and abroad, covering a wide range of topics, including politics, sports, entertainment, business, health, and more.

Editors' Picks

Latest News

© 2023 BBN – Big Big News