Maryland OKs $8.5 billion in incentives to lure Amazon, biggest offer in nation
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Title : Maryland OKs $8.5 billion in incentives to lure Amazon, biggest offer in nation
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Title : Maryland OKs $8.5 billion in incentives to lure Amazon, biggest offer in nation
link : Maryland OKs $8.5 billion in incentives to lure Amazon, biggest offer in nation
news-today.world | Maryland lawmakers approved $6.5 billion in tax incentives for Amazon on Wednesday, pushing through the largest economic development package in state history on the hope the internet retail giant will build a new headquarters here.
The massive tax incentive package comes on top of an additional $2 billion in promised infrastructure and transportation improvements for the White Flint Mall area of Montgomery County, one of the 20 spots across the country Amazon picked as finalists for its so-called HQ2 project.
The massive tax incentive package comes on top of an additional $2 billion in promised infrastructure and transportation improvements for the White Flint Mall area of Montgomery County, one of the 20 spots across the country Amazon picked as finalists for its so-called HQ2 project.
Maryland’s $8.5 billion package, which is $3.5 billion bigger than originally advertised by Republican Gov. Larry Hogan, would be the largest publicly known incentive offered to Amazon in exchange for building its second headquarters. The next largest offer came from New Jersey, which offered $7 billion for the project to be built in Newark.
Hogan’s administration contends the package will cost less — $5.27 billion with the tax incentives costing $3.27 billion. The governor has called it “the single greatest economic development opportunity in a generation.”
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Hogan’s administration contends the package will cost less — $5.27 billion with the tax incentives costing $3.27 billion. The governor has called it “the single greatest economic development opportunity in a generation.”
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