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Chicago Offers $2 Billion in Incentives for Amazon Bid

Chicago Offers $2 Billion in Incentives for Amazon Bid

Chicago Offers $2 Billion in Incentives for Amazon Bid

The race to land the second Amazon Headquarters (HQ2) is on and a hotter race than ever.  And Illinois is pulling out all the stops and tricks it can think of that include a proposal of $2 billion or more in tax breaks and incentives.  The chance to have one of the largest retailers in the game right now come to Chicago is a huge opportunity to land 50,000 jobs.  Gov. Bruce Rauner, Mayor Rahm Emanuel, Cook County Board President Toni Preckwinkle and the legislature’s top four leaders placed the city’s bid for HQ2 that offered the online retail giant state tax breaks, property tax discounts, infrastructure spending and other incentives, including $250 million that would help pay to train the new workforce that Amazon would hire. 

The officials included in a letter to Amazon that there could be even more money and tax breaks available should they choose to bring the headquarters to Chicago.  In the bid for HQ2, Chicago has submitted 10 sites that could potentially be the next headquarters space.  Emanuel wants to get across “the region’s unparalleled potential to support Amazon’s future growth.”