My Take On Amazon Ditching New York


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I was asked by the producers at Fox Business to give my reaction about Amazon (AMZN) pulling out of their New York second headquarters expansion. Okay, I’m a cynic. To me, this is just a ruse to take advantage of top tech talent in Manhattan, cheap construction costs in Newark, and connecting the two using the PATH train to cross the Hudson River.

The bottom line is that this would be a good deal for a few people. The shareholders of Amazon, the construction firms, and successful tech talent living in Manhattan. What you don’t know is if the billions in tax breaks Newark will give Amazon (more than what New York was giving) will pay off in the end.

Sounds a lot like what we are dealing with here in New Mexico - from the Facebook data center to Netflix's moving into Albuquerque Studios. Only time will tell if real economic development will transpire.

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