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The race among U.S. cities to woo Amazon

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The unchallenged march of the market has long established the notion that it is the duty of the governments to woo investors and provide business-friendly environments. This idea has been playing out in a dramatic fashion in the U.S. over the last few weeks, ever since e-commerce giant Amazon challenged cities on September 7 to bid for a new headquarters that it plans to set up, which will bring $5 billion in investment, and 50,000 new jobs. As bids closed on October 19, 100-plus cities submitted proposals, offering a slew of incentives. Amazon will announce the winner next year.

“We’re excited to find a second home,” said Jeff Bezos, Amazon founder and CEO, announcing the search for a place with “more than one million people, a stable and business-friendly environment and communities that think big and creatively”. Amazon also advertised what its presence brought to Seattle, its current headquarters. It “estimates… every dollar invested by Amazon in Seattle generated an additional $1.4 for the city’s economy overall”.

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Article Credit: The Hindu

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