NEW YORK | Amazon - Long Island City | CANCELED

[NYguy]

Don't worry, the spin-offs will come. All eyes are on LIC now.



https://www.instagram.com/p/BqqCL6AgFLg/

[NYguy]

https://www.forbes.com/sites/daviddo.../#3ba620e24ed9

Amazon Gets Neighborly With Madison Avenue

By David Doty
November 26, 2018

It’s not too hard to figure out why, out of all the cities in the US, Amazon made a calculated decision to choose Long Island City for one of its two new “HQ2s.” It’s just across the East River, in a direct shot on the subway’s No. 7 train, from Grand Central Terminal—and Madison Avenue. That means it’s within an arm’s reach of the nation’s headquarters for agencies, ad content creators, media companies, and an immense pool of ad tech talent, stuff you just don’t find in such large numbers in Silicon Valley. And who can blame Amazon? By moving to LIC, Amazon has made more than a physical move; it’s made a strategic move to focus on its rapidly growing business: advertising.

Amazon’s overall growth has been on a rocket-fueled trajectory these last few years. But if you take a closer look at each business segment, you’ll see why this strategy to put emphasis on its advertising business makes sense for the mammoth e-tailer’s future. Subscriptions to Amazon Prime look to be flattening. Amazon missed revenue expectations in the third quarter, and its fourth-quarter outlook (ahem, the holiday season) has been trending below expectation.

Then there’s its advertising business. In the third quarter, Amazon brought in nearly $2.5 billion in advertising revenue. CNBC has been saying that the year’s total could add up to a whopping $10 billion. That’s up from $2.8 billion in all of 2017—an astounding 257% increase in a year. That’s a growth rate faster than, for example, mobile advertising itself has ever seen.

Advertising is a high-margin operation with comparatively low overhead (no warehouses) and has been growing for Amazon this year at an almost magical speed and expectations are that it will outperform Amazon Web Services income by 2021. What’s more, the company’s advertising play is said to be already taking a bite out of the other behemoths in the game. As J.P. Morgan analyst Doug Anmuth said, “Google’s recent slump can also be blamed on ‘increasing concerns of direct competition with Amazon’s fast-growing advertising business.’” Anyone who observes the advertising industry should be keeping in mind that, despite Amazon’s tremendous ad revenue growth, it’s only getting started in this effort and has barely scratched the surface when it comes to unleashing product and sales resources.

Positioning a new headquarters overlooking the towers of the mecca of the ad world is a no-brainer.

...Recognizing Amazon’s clear rise, and strategic intent to build a walled garden of advertising and product and data, is vitally important because it should relieve this industry of its myopia and inspire every one of us to do better, to think bigger, to “open the aperture,” as it were. Every new Amazon ad product, every overstuffed 7 train leading people to and from the literal Madison Avenue, is a persistent reminder that whoever’s on top will eventually fall down. Yesterday it was the Don Drapers who were in trouble. Today the Google/Facebook hierarchy is under threat of being overthrown. Tomorrow it’ll be Amazon teetering against the competition.

http://gothamist.com/2018/11/27/prot..._m.php#photo-1

Protesters & NYC Politicians Vow to 'March Forever' Against Amazon Deal











BY GWYNNE HOGAN
NOV 27, 2018

Protesters and local politicians vowed they’d “march forever,” if the terms of Amazon’s deal with Mayor Bill de Blasio and Governor Andrew Cuomo to build a second headquarters in Long Island City aren’t walked back.

Dozens of protesters draped in rain ponchos and shielded with umbrellas gathered in the pouring rain in Court Square Tuesday evening chanting, “in the rain and in the snow, Amazon has got to go.”

Councilmembers Jumaane Williams and Jimmy Van Bramer rallied the crowd, along with the former City Council speaker Melissa Mark Viverito, State Assemblyman Harvey Epstein and Councilwoman Helen Rosenthal, who led the group in a chant of “Bullshit.”

Councilman Jimmy Van Bramer, who represents Long Island City, took issue with what he saw as one of the worst parts of the deal—a $505 million cash grant from the state for Amazon to build the headquarters.

“Jeff Bezos is rich enough to build any building he wants to build. Why are we giving him $500 million dollars in cash grants?... That’s outrageous,” he said, adding, “We will march forever until we get what we deserve.”

Beyond the $505 million in a cash grant from the state, Amazon will get $1.2 billion in tax credits off wages for employees and won’t have to pay property taxes—instead putting that money toward an infrastructure fund for the surrounding area. Amazon will also be eligible for additional tax breaks at the federal level because the area is a designated "Opportunity Zone."

De Blasio and Cuomo insist the deal will create more than 100,000 direct and indirect jobs, more than $4 billion in state tax revenue, and 13.5 billion in city tax revenue. But other local leaders say the state has too much control over the scope of the project, and the city too little oversight. In its current form, the state will take control of all of the waterfront property for the project, bypassing the City Council.

On Monday, in his weekly appearance on NY1, de Blasio was asked if he planned to “steamroll over the Amazon pushback,” or whether there was a chance the deal could still be killed.

“I believe that the merits are overwhelmingly clear and that the pathway to get this done is straightforward,” the mayor replied. “I think you’re going to see critique, I think you’re going to see oversight, but I believe it will move forward.”

https://www.crainsnewyork.com/real-e...hink-tank-says

Amazon deal a boon for city priorities, think tank says
Regional Plan Association outlines areas where company’s influence can bolster key projects

MATTHEW FLAMM
November 26, 2018

The Amazon deal will bring 25,000 jobs to Long Island City at a cost of nearly $3 billion in subsidies. But according to a report released Monday, the jobs are just the beginning. There's a chance that the ecommerce giant will align itself with the city and help push for greater investment in projects that would benefit both public and private interests.

That, at least, is the argument the Regional Plan Association is making in its new white paper, which targets three areas—affordable housing, expanding mass transit and protecting Long Island City from sea-level rise—where Amazon could lend a hand.

"The best way to make sure this deal is a win for all is for the city and state to continue to invest in infrastructure and get Amazon to help make it happen," the report says.

Tom Wright, the RPA's chief executive, compares the Amazon deal to Disney's mid-1990s agreement to purchase the New Amsterdam Theater on 42nd Street and invest in Times Square. Eventually, he said, Disney and the city had the same goals.

"The city and Amazon are now going to be moving necessarily in the same direction because they need the same things," Wright said.

[Zerton]

Originally Posted by NYguy

https://www.bloomberg.com/news/artic...s?srnd=premium

Another Winner of Amazon HQ2 in Queens? Goldman Sachs

By Noah Buhayar and Justina Vasquez
November 26, 2018

Isn't this story just a little fishy...?

(Thanks for anwering my question earlier also by the way (as well as Crawford & Hudson11).)

[Gantz]

Originally Posted by NYguy

http://gothamist.com/2018/11/27/prot..._m.php#photo-1

Protesters & NYC Politicians Vow to 'March Forever' Against Amazon Deal


BY GWYNNE HOGAN
NOV 27, 2018

Who are these protesters and where are they coming from? Are they being bussed in?

[NYguy]

Originally Posted by Zerton

Isn't this story just a little fishy...?

(Thanks for anwering my question earlier also by the way (as well as Crawford & Hudson11).)

I don't think so. There was already a development pipeline in Long Island City.

Originally Posted by Gantz

Who are these protesters and where are they coming from? Are they being bussed in?

They are people who need to protest something, and from various organizations. In other words, professional protesters. Amazon is the hot issue of the moment. Never mind the fact that they should be protesting about (or for) the things they say they do care about (like housing, transit, etc). Oh no, that just wouldn't be right. But let a company come to town with the promise of jobs, jobs that will lead to more jobs, and they're up in arms.




Anyway, this cartoon would be funny if it weren't so misleading. I don't know why the media keeps running with the idea that the City is building Bezos a heliport. It's not. But we won't let that get in the way of a good cartoon.


https://twitter.com/harrysiegel/stat...893633/photo/1





https://www.nbcnews.com/tech/tech-ne...ts-say-n938531

All the things New Yorkers fear about Amazon's HQ2 (and a little optimism)

Nov. 27, 2018
By Dareh Gregorian

It’s the largest economic development project in New York state history, bringing with it up to 40,000 high-paying jobs and billions of dollars in tax revenue. But when many New Yorkers and local politicians look at Amazon’s “HQ2,” they see the problems of Seattle.

Many of the critics' fears stem from the reputation of Seattle, home of Amazon's original headquarters. As the company's success has skyrocketed (its market value hit $1 trillion in September, only the second publicly traded U.S. company to hit that mark), Seattle has struggled to adjust, with the city’s mayor declaring a state of emergency due to a growing number of people left homeless by rising rents and real estate prices.

But while some similar problems are expected to crop up when HQ2 comes to New York, there's a big difference between the two locales.

"New York is not Seattle," said Mitchell Moss, director of the Rudin Center for Transportation at NYU and a former Seattle resident.

"There is not a caravan of Amazon employees coming to occupy and jam the trains," Moss said, adding that Amazon employees living in the areas around Long Island City may end up occupying little-used lines.

Moss also predicted it might actually ease overcrowding because the new workers could be commuting from Brooklyn and Manhattan into Queens, instead of the other way around. "We want workers in the northwest part of Queens," he said. "They'll be filling empty trains." (Those commuters heading west on the crowded 7 train, however, will have a very different experience.)

According to the terms of the deal, the first wave of Amazon employees, about 700 workers, will go to work next year in One Court Square, an existing office tower used by Citigroup. The bank will move about 1,000 of its employees currently there to another location. Amazon will then move in another 2,000 employees in 2020 while it builds its massive new offices, a process that is expected to take 10 years.

other opponents of the deal on the left and the right also took aim at the billions of dollars in tax incentives and grants Amazon is getting in the deal.

...Ginsberg noted that the city and state aren't cutting Amazon a check — they're giving the company a break on state and city taxes it will be paying, money they wouldn't be getting otherwise. The state and the city say even with the breaks, the deal will create $27.5 billion in tax revenue over the next 25 years — a 9-to-1 payout on the investment.

The professor noted the incentives were less than other cities had proposed to lure Amazon. Pittsburgh reportedly offered $9.7 billion and Newark over $7 billion.

The incentive package is roughly in line with the amount Wisconsin kicked in to attract 13,000 FoxConn jobs last year. On average, those jobs will pay about a third of what the Amazon jobs do. The Queens tax incentives also come with a catch — they kick in when Amazon hits hits certain hiring and building targets.

[NYguy]

https://www.cnbc.com/2018/11/27/nyc-...mazon-hq2.html

NYC deputy mayor to Alexandria Ocasio-Cortez and other critics: Amazon HQ2 deal won't be stopped
Amazon's New York HQ is "an endorsement of who we are as a city," Deputy Mayor for Housing and Economic Development Alicia Glen says.


Tyler Clifford
November 27, 2018

New York Deputy Mayor Alicia Glen sent a message Tuesday on CNBC to critics hoping to curtail $1.5 billion in tax incentives used to lure Amazon's so-called HQ2 to the city: "This deal is not going to get stopped."

When asked on "Squawk Box" about New York officials, such as Representative-elect Alexandria Ocasio-Cortez, who have come out against the move, Glen said the community would be engaged in the process.

"I can guarantee you five years from now all New Yorkers will be thanking us for having brought them," she said.

"A lot of that initial reluctance will burn off and people will realize what a great deal this is for New York City, because it's an endorsement of who we are as a city: innovative, diverse, open — and that's exactly why Amazon chose to come here to begin with," Glen said.

Glen, who heads up Mayor Bill de Blasio's housing and economic development department, explained that the online retailer is using New York's real estate and employee tax subsidy programs designed to "stimulate more job creation" outside of Manhattan.

Amazon could receive as much as $500 million in exemptions from the Industrial & Commercial Abatement Program and $3,000 per new job over 10 years from the Relocation and Employment Assistance Program, Glen said. If the tech company brings the 25,000 jobs it has promised, that could amount to $750 million.

Amazon was also offered incentives from New York state, which could sum up to $1.5 billion.

"This was not a deal that was designed for Amazon," Glen stressed. "These are our basic economic development tools and it again continues to diversify our economy into the five boroughs, which is actually the smart thing to do."

[chris08876]

I think in 5-10 years, the protesters will not have ground to stand on when the figures come out for the total economic impact that this move will have. Besides the gain with just Amazon, there are many other beneficiaries to this move. Other businesses will benefit. Jobs will be added at other places. An economy is intertwined. If one business adds "X" amount of jobs or even space, there's always other niches in the local economy or even regional that will cater to it.

Just like if the city made a deal to build a new HQ for any F500. Many will benefit from the move, not just the F500 from a business standpoint.

Sure there may be hits to the overall system in regards to added flux, like with transit, traffic, but like any growing city, these are the side effects of growth.

I think things like housing and transit are not Amazon's fault, but the city leadership. If housing rises due to the move, its not really Amazons fault, but the root cause being zoning that is not aggressive enough. Developers want to build, but the parameters need to be there. Also the circle jerk going on with transit city-wide, but thats been going on for decades.

In the grand scheme of things, Amazon is still a small fish when you factor in the overall greater economy. Its move will not have a profound and devastating impact on NYC.

If Amazon moved to lets say Newark, yeah, thats a big deal or somewhere in Kansas, but in NYC, its just another company, albeit one of the worlds largest which is a perk but even so, not enough to dramatically alter the city-scape or living dynamics.

[chris08876]

In a nutshell, the protesters are just feeding the alarmist vibe over the move, and a lot of scaremongering in a city that quite frankly will not be affected profoundly from the move.

[streetscaper]

Loved this:

• Video Link

[pico44]

Originally Posted by streetscaper

Loved this:

Yes. I like her. She's like the anti-Cortez. Intelligent and rational. Brian Lehrer had a couple of the protest organizers on WNYC yesterday and they were just terrible. I actually felt bad for them because they obviously hadn't thought through their talking points. It was embarrasing

[NYguy]

People don't realize that the city didnt really offer Amazon anything to draw them. That's why New York's bid came in so much lower than many.

[vandelay]

I think the idea is that Amazon should have made concessions to have the privilege to come to New York, e.g. a development fund, transit investment, etc. instead of the city incentivizing them.

Amazon should have gone to Jersey.

[chris08876]

It really would have done wonders for Newark, which hasn't boomed nowhere near in magnitude like Jersey City. Granted units are rising, and things are in the pipeline, but it really needs that spark to really swell up.

I think its good that NY got it, but I agree, I think other places could have really used the benefit. On a side note, the Jersey incentives where crazy high, but it would really transform Newark over the long run. Possibly creating even more jobs as the node grows.

[NYguy]

Originally Posted by vandelay

I think the idea is that Amazon should have made concessions to have the privilege to come to New York, e.g. a development fund, transit investment, etc. instead of the city incentivizing them.

Amazon should have gone to Jersey.

Why? So Amazon could get triple the breaks they are getting now? Amazon could have gone anywhere, but it would have been very foolish for the city and state to turn them down. Those incentives are and have been in place for any company to take advantage of. But how many companies do you see breaking down the door to Queens to put that many jobs and that kind of economic stimulus there? No one has come or will come even close.

The city goes through bad times and good times. And you better believe some bad times will come again. There are people in the right places that know you can't ever let up on economic development. And a development of this size is a gift to the outer boroughs.

[NYguy]

http://www.qgazette.com/news/2018-11...azon_In_Q.html

All Boros’ Chambers Of Commerce Support Amazon In Queens

The Chambers of Commerce of the Bronx, Brooklyn, Manhattan, and Staten Island, in addition to the Queens Chamber of Commerce, announced on November 20 their unanimous support of Amazon’s announcement to locate HQ2 in Long Island City, citing the creation of 25,000 jobs and support for economic development.

Thomas J. Grech, president & CEO of the Queens Chamber of Commerce, said, “The jobs and economic opportunities that are created will add to our already-vital economy in many sectors, from construction to technology to food service to transportation, and more. We are proud that the pro-business environment in New York City, especially our talented and diverse workforce, will help Amazon and other forward-looking businesses thrive. We can look ahead to more than 25,000 good-paying jobs that will allow more New Yorkers to access the American dream. Amazon’s on-site employment center will include job placement and training, so many jobs will benefit local residents, including those in nearby NYCHA housing. The new facility will attract additional investment into the region. Amazon will be making investments in infrastructure and local education as well. The benefits will echo across the area.”

He added, “In exchange, Amazon will be gaining access to a superb, central location that will help them attract and retain talented employees. They will have the benefit of excellent educational and training facilities nearby, including the tech campus on Roosevelt Island. Transportation options are plentiful. A well-developed existing local network of local partners is available to provide whatever a thriving business might need. Along with our elected officials, we look forward to working with our local businesses, Amazon, and their partners, to create mutually profitable connections that help everyone prosper.”

Brooklyn Chamber of Commerce President and CEO Hector Batista, said, “We are really excited for our partners in Queens and believe they will make a welcoming and successful home for Amazon. Any project that is going to bring jobs and economic development to New York City is a win for all of us. I’m sure many Brooklynites will be commuting to Long Island City to work at Amazon. So, this is actually a great time to get to work on projects like the BQX light rail. We look forward to working with the Queens Chamber on efforts such as this to continue to grow our local talent and economy across the boroughs.”

Lisa Sorin, incoming president, Bronx Chamber of Commerce, said, “Amazon’s arrival in Queens is a fantastic addition to our great city. Their decision to move to Queens only solidifies the hard work being done by institutions like the Queens Chamber that helps to bring and support businesses in our boroughs and all the jobs that come with it. We congratulate our Queens partners on what is a historic accomplishment.”

Jessica Walker, president and CEO of the Manhattan Chamber of Commerce, said, “Amazon’s presence will solidify New York City’s position as the tech capital of the world and will be a boon for the small businesses located here that are increasingly selling their products on the platform. Our Chamber looks forward to maximizing the relationship to ensure that this unprecedented opportunity is a win for all stakeholders.”

Linda Baran, president & CEO of the Staten Island Chamber of Commerce, said, “Amazon’s selection of Long Island City as one of its US headquarters after such a competitive process says a lot about what New York has to offer. The fact that we have an available talent pool that can be tapped into to fill the high paying jobs that become available will in turn feed the local and regional economy. It presents a huge opportunity for both businesses and residents. This past year, we welcomed Amazon as it opened its first New York fulfillment center here on Staten Island. We at the Chamber are excited to see the corporate tech giant’s investment and commitment to the region.”

[tdawg]

"“Amazon’s presence will solidify New York City’s position as the tech capital of the world..." Huh?

[Zerton]

^ Ha I noticed that too. NY gets to claim to be the capital of a lot of things but the Bay Area/SF is the world's tech capital. Plus isn't this more of a logistics headquarters?
It is interesting to see individual cities forming niches in the industry (like Pittsburgh with self driving cars). Were seeing the beginnings of huge future industries.

[Hudson11]

Originally Posted by Zerton

^ Ha I noticed that too. NY gets to claim to be the capital of a lot of things but the Bay Area/SF is the world's tech capital. Plus isn't this more of a logistics headquarters?

don't look now. Amazon is just one entity. Other big names are opening shop or expanding in NYC. "World's tech capital" might be a stretch today, but NYC is a top tier competitor. No. 1 within the next two decades might not be an outrageous claim.

[NYguy]

I'm all broken up about this....

But a good look around.


https://ny.curbed.com/2018/11/29/181...in-photo-essay

A walk around Anable Basin, Amazon’s future home in Queens
The tech giant’s incoming HQ2 will erase the unique industrial landscape around Anable Basin


By Nathan Kensinger
Nov 29, 2018

The public pier at the end of 44th Drive was repaired and reopened in 2016 after falling into complete disrepair. “Prior to the pier’s reconstruction, the waterfront was unusable and inaccessible to businesses and residents,” according to Urban Engineers, the firm that completed the $7 million repair.

This empty factory on Vernon Bouelvard is the former site of Paragon Paint, which is being redeveloped by Simon Baron Development. They have proposed to build a 26 story residential tower designed by SHoP Architects here. The developer “is likely to spend about $15 million cleaning up the contaminated site—where paint and varnish was manufactured for decades,” according to the LIC Post.

A cluster of homes and small businesses are next door to the Paragon Paint site, at the corner of Vernon Boulevard and 46th Avenue, including LIC Bar and City Vet. They may soon be overshadowed by both the Amazon complex and Simon Baron tower.

Looking west down 46th Avenue, from Vernon Boulevard. Many of the warehouses here are also owned by Plaxall, a plastics manufacturer and real estate management company which has been in Long Island City for over 70 years. The northern side of the avenue is part of the proposed Amazon campus.

Next door is a long warehouse property owned by Plaxall, which would be demolished to make way for the Amazon headquarters. It currently houses an architectural fabrication business, a gym, and an art gallery. Plaxall manages over 1 million square feet of space in the neighborhood.

The parking lot behind the Plaxall warehouse is used by LIC Flea & Food, an event that draws in thousands of tourists to to Long Island City. It would also be displaced by the Amazon campus.

The waters of the basin are inaccessible to the public, other than via the canoe and kayak launch of the Long Island City Community Boathouse, a volunteer-run community group that is also housed on land owned by Plaxall, within the Amazon footprint.

The south side of the basin is lined by a public promenade created as part of the Queens West development project. It looks across toward the Plaxall warehouse complex that is slated to demolished as part of the Amazon headquarters. The Prudence Ferry, which Plaxall once hoped to turn into a floating beer garden, is moored nearby.

[NYguy]

Amazon will initially set up offices in One Court Sq, taking about 1 msf...


https://www.onecourtsquare.com/