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40,000 New Jobs Projected For Long Island City By 2033 As TF Cornerstone Selected To Develop Amazon’s HQ2

Amazon has officially revealed its plan to develop a second headquarters along the East River banks of Long Island City, Queens. The “HQ2” corporate complex will span multiple lots and structures on Vernon Boulevard, from 44th Road, all the way to 46th Avenue.

The HQ2 development arrives as a joint venture between several state agencies and private entities. Government agencies include Empire State Development, the NYC Economic Development Corporation, and the City of New York. TF Cornerstone was selected as the designee of the City’s original RFP for the site, and will work closely with all partners to oversee and complete the new development.

The new headquarters will initially occupy approximately 4,000,000 square feet of commercial space, and promises the creation of 25,000 jobs within 10 years. The company’s total footprint will eventually occupy 6,000,000 to 8,000,000 square feet of commercial area. Within 15 years, the company is expected to create up to 40,000 new jobs.

The average wage for the Amazon HQ2 employee population will exceed $150,000 per year.

To help locate employees, state agencies will partially subsidize workforce development initiatives beginning in 2020. Initiatives will include accelerated technology training programs, recruiting, and targeted promotions.

In recognition of the scale and projected economic impact of Amazon’s H2 development, Empire State Development structured an incentives package valued at approximately $1,705,000,000.

In addition to offices, the site will include affordable manufacturing and industrial space, dance studios and cultural space featuring programming by the Joyce Theater, and community development centers.

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NYY