Online retail giant Amazon announced Thursday its intention to build a second headquarters in North America dubbed HQ2 to complement its Seattle headquarters. The company has asked states and cities to pitch their proposals to become the titan’s second home with information available at www.amazon.com/amazonHQ2.
The company projects an outlay of $5 billion in construction costs for the new complex and the creation of 50,000 new top-paying jobs. Cities with more than one million residents and an environment that is business-friendly will be given preference. The location should also have the ability to attract solid technical talent in software development and allied fields while maintaining creativity when considering available real estate options.
Amazon clarified that the choice will not have to necessarily be urban or downtown or a pre-planned development site.
Jeff Bezos, Amazon’s founder and CEO said in a statement that they are excited to find a second home and that HQ2 will be equal to the current headquarters in Seattle. He added that the new location will create tens of thousands of high-paying jobs and result in billions of dollars in up-front and ongoing investments for the host city or state.
The massive investment associated with this project will intensify the race among cities to attract HQ2. According to Amazon, the company estimates that from 2010 through 2016, its operations and investments at its headquarters in Seattle resulted in $38 billion additional flows into the city’s economy.