Amazon, the online retail giant, has announced its intention to build a massive $5 billion campus that will become its second headquarters. In an invitation to local governments and states to come forward and pitch their proposals, the company says it will bring 50,000 top-paying jobs to the winning hub in what will become HQ2 – a fully fledged headquarters equivalent to the Seattle home. In addition, this undertaking is expected to create thousands of jobs in construction and other allied industries. Other related investments in the city could run into billions of dollars. In its own estimate, Amazon says that from 2010 through 2016, its investments in Seattle resulted in $38 billion additional inflows to the city’s economy meaning that every dollar invested by Amazon in Seattle generated an additional 1.4 dollars on average for the city’s economy.
In a news release, Amazon said that the expectation is to bring on board new executives and teams to occupy the new HQ2 and at the same time allow current executives to choose whether to move their teams to HQ2 or have them in both locations. Employees would also be given a chance to weigh in on their preference.