By J. Mac Holladay - Founder and CEO, Market Street Services, Atlanta
There has never been a public competition like the one going on for what is called the Amazon HQ2. Unlike most national location searches, even of large projects or headquarters moves, this one has become a national phenomenon. Cities and regions across the country have submitted “proposals” that run from bizarre to very creative. Included in many of them are massive incentives of all descriptions including large amounts of cash. As an economic development professional who has participated in many large projects as both a state economic development director and a local Chamber executive, let me offer perhaps a different view of what is happening.
Amazon had record revenues in 2017 of $136 billion up 27% from a year ago. The firm’s net profit was $2.4 billion. $80 billion of its sales were in the United States. The company is holding $31 billion IN CASH with over $10 billion overseas. Amazon, unlike Apple, has not moved any funds back to this country...
To read the full article click https://www.bizjournals.com/atlanta/news/2018/02/26/viewpoint-one-thing-that-can-go-horribly-wrong-for.html. If it has been removed, please email Alexia Eanes for a copy of the entire article.