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August 18, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Connecticut makes its pitch for Amazon’s HQ2

Connecticut submitted its bid today for the so-called HQ2, Amazon’s second North American headquarters, meeting the Oct. 19 submission deadline for states, cities and Canadian provinces.

As previously reported, the Connecticut Department of Economic and Community Development decided to pitch the Stamford and Hartford regions for what the retail giant 

is calling HQ2. Amazon has said it will invest over $5 billion in construction of what could end up as an 8 million-square-foot facility, which would ultimately include as many as 50,000 “high-paying” jobs.

The DECD said that, if the bid is accepted, Amazon’s move to Connecticut could have an impact of up to $500 billion over 25 years, with an increase of nearly $8 billion in state revenue. The proposal includes establishing a “partnership fund” that would use some of that windfall to pay for schools, housing, transportation and other public systems that would be impacted by HQ2.

A financial incentives package is apparently a part of the bid, though details were not available.

The submission meets various Amazon requirements: both of the metro areas have populations of about 1 million, are close to international airports and have easy access to mass transit and interstate highways.

Connecticut also touts various cultural, entertainment and recreational sites available to would-be Amazon-employed residents.

“Connecticut is filled with spirit and ingenuity, and is the perfect location for a global company like Amazon to position its next headquarters,” Gov. Dannel Malloy said. “Our state is home to cutting-edge industries that are in the growth and innovation sectors, and we have one of the most in-demand talent pools in the nation with an educated and skilled workforce that is second to none and guided by some of the country’s top educational institutions.

“We take pride in the accessibility, convenience, and interconnectedness that our small state offers,” Malloy said, “and the rich heritage of inclusiveness, diversity, and equity upon which our country was founded. Connecticut meets the needs of a forward-moving, 21st Century company like Amazon to succeed and thrive.”

“This proposal is the culmination of a lot of hard work at both the state and local level,” DECD Commissioner Catherine Smith said. “Throughout this process, people came out of the woodwork to provide creative ideas, sign letters of support and roll up their sleeves to help out.

“We also had input from the legislature, our federal delegation, multiple state agencies, municipalities, our colleges and universities, partners in the private sector and residents,” she said. “I cannot thank everyone enough for their support – it was a true all-state effort. We will hope for good news from Amazon in coming months.”

“We are confident that Amazon will find everything it is looking for in Stamford,” Stamford Mayor David Martin said. “Like the other Fortune 500 companies, small businesses, and the wonderful people that call Stamford home, we believe Amazon will discover that Stamford is the place to be. Stamford is primed and ready to go!”

Danbury and a Bridgeport-New Haven alliance are also expected to deliver their formal submissions today.

Also in the running are New York City; Baltimore; Boston; Chicago; Denver; Newark, which has proposed $7 billion in potential credits against state and city taxes; Philadelphia; Pittsburgh; the Sacramento, California region; and Austin, the home of Whole Foods Market, which Amazon recently acquired for $13.7 billion.

Download the state of Connecticut’s Amazon HQ2 application here. Additional documents on Connecticut’s proposal can be found by visiting CTisPrime.com.