Keiter Tax Senior Manager and Leader in Keiter's State and Local Tax team, Terry Barrett, shared her insights on how credits and incentives can attract businesses to a locality after Amazon announced it was seeking a second headquarters location (HQ2) and the advantages for businesses and localities alike in the July/August 2018 issue of VSCPA's Disclosures Magazine article, “Credits, incentives and business location decisions.”
When Amazon announced it was looking for a second headquarters location (HQ2) that would create up to 50,000 high-paying jobs, cities and states pulled out all the stops to put together THE package to lure them in. What began as bids from 238 cities and regions from across 54 states, provinces, districts, and territories across North America is now down to 20 potential cities, including areas in Northern Virginia, Washington, Montgomery County, Md., and Raleigh, N.C., to name a few of the nearby locations. A decision is expected in 2018.
Each city/state proposed certain incentives, tax or otherwise, to attract HQ2.
Source: VSCPA Disclosures Magazine
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