Business Insider wrote that Cuomo’s office said that the HQ2 project would have brought in $27.5 billion in new tax revenue over 25 years based on two economic impact studies, one commissioned by the governor and another by the city.
This would have well-exceeded the amount (of $3 billion in tax incentives) given to Amazon. Of that amount, $14 billion in tax revenue would have gone to New York state and $13.5 billion would have gone to New York City, according to Cuomo’s office.
Here’s the statement from Mayor Bill de Blasio on Amazon HQ2:
“You have to be tough to make it in New York City. We gave Amazon the opportunity to be a good neighbor and do business in the greatest city in the world. Instead of working with the community, Amazon threw away that opportunity. We have the best talent in the world and every day we are growing a stronger and fairer economy for everyone. If Amazon can’t recognize what that’s worth, its competitors will.”