Online retailing giant Amazon has decided to establish a new corporate headquarters in Long Island City, Queens.
The company made the decision following a year-long selection process during which 238 cities across North America competed for the multibillion-dollar project.
Amazon plans to occupy up to 500,000 sq. ft. at One Court Square while working to construct 4-million-sq.-ft. of commercial space on Long Island City’s waterfront over the next 10 years, with expansion opportunities for up to 8-million-sq.-ft. over the next 15 years.
Through a $3.6 billion total investment, Amazon will draw from the diverse and talented workforce in New York State to fill at least 25,000 new jobs by 2029 and up to 40,000 jobs by 2034 with an average salary of $150,000.
Construction is expected to create an average of 1,300 direct construction jobs annually through 2033. Overall, the project is estimated to create more than 107,000 total direct and indirect jobs and over $14 billion in new tax revenue for the State and a net of $13.5 billion in city tax revenue.
The city/state agreement with Amazon includes commitments to build a jointly-funded 10,000-sq.-ft onsite employment center to connect local residents with jobs and training. A $15 million investment will expand the JobsPlus program to Queensbridge Houses and expand tuition-free tech training to its residents—serving nearly 1,800 residents over the next 10 years.
In addition, the agreement also secures a new approximately 600-seat intermediate public school, a 3.5-acre waterfront esplanade and park, and the establishment of a Long Island City Infrastructure Fund to invest 50 percent of the project’s PILOT proceeds to deliver on transportation and other neighborhood priorities.
