Quote:
Originally Posted by rcentros
According to this article (that came out shortly after the deal was first announced), it was going to cost the taxpayers nearly $3 billion.
https://ny.curbed.com/2018/11/16/180...city-explained
And that doesn't include all the money saved by granting Amazon special privileges and not making them jump through hoops that most businesses would have to jump through. That kind of red tape would have cost millions on something this big. |
If the numbers claimed by Amazon are correct (average job pays $150,000) then the payback per job (for NYC taxes only, ignoring NY state taxes) is 11 years.
$150,000 x 3% (.03) = $4500 a year in NYC income taxes. X 11 years = $49,500.
This does not include any sales tax payments, nor does it include any area multiplier effect for new support jobs. (People are going to spend some of their salary locally, no?)