Cuomo Downplays $1.5 Billion Amazon Subsidy
New York Governor Andrew Cuomo downplayed the $1.5 billion in tax credits and $1.2 billion in tax breaks given to Amazon in return for the company basing its new headquarters in New York City, claiming it “Cost us nothing.”
“This is a big money-maker for us — costs us nothing, nada, niente,” he said during a press conference. “We make money doing this.”
Nonetheless, Amazon is reportedly receiving “$2.5 billion in taxpayer subsidies,” including “$1.525 billion in tax credits and construction grants,” and “$1.28 billion in tax breaks.” The company chose to split its new headquarters between New York City and Arlington, Virginia, this week after receiving hundreds of offers and incentives from around the country to entice Amazon into building its headquarters in the area.