The Costs of Luring Amazon

building-2762319_1920It seems like everyone is talking about luring Amazon’s second headquarters to their jurisdiction, and the State is no exception. With Amazon’s deadline for proposals coming this week, Douglass Mayer, spokesman for Gov. Larry Hogan, has said that Maryland will propose “the biggest incentive offer in the State’s history by a mile,” reports The Baltimore Business Journal

From that coverage:

Already, the state has invested more than $50 million in tax incentives for two Amazon distribution centers in Baltimore and Cecil County. Another package totaling at least $16.2 million is awaiting a deal under negotiation in Baltimore County at the former Sparrows Point steel mill site.

In total, Amazon has netted $1.24 billion in taxpayer backed incentives across the U.S., a special report by the Business Journals highlighted this week.

Mayer said Hogan had sanctioned the pie-in-the-sky tax break package as part of the ongoing push for HQ2 and monitors the developing bids daily. The historic incentive package no doubt will blast past the $317 million offered to the Federal Bureau of Investigation to move its headquarters to Prince George’s County last year.

Amazon’s deadline for proposals fors its estimated $5.5 billion investment and 50,000 jobs is this Thursday, October 19. Prince George’s, Howard and Baltimore City have all indicated their intentions to place bids.

More on the competition for Amazon:

UMD System Waives Tuition Rule For Amazon Employees

Baltimore submits city as a contender for Amazon’s 2nd HQ search