I fully support county efforts to recruit Amazon’s HQ2 for Montgomery County. My overriding concern about economic development in the county is that we need to diversify our economy rather than continue our dependence on federal jobs in this region – Amazon’s presence will do just that.
To be eligible for the tax credits approved by the General Assembly, Amazon must spend a minimum of $4.5 million in project costs and fill at least 40,000 jobs with an average compensation of $100,000 or more. These tax credits are really “foregone” income. If Amazon doesn’t locate here, we get 100% of nothing. If Amazon locates its second headquarters in Montgomery County, even with incentives we will get a percentage of something that we wouldn’t otherwise have.
The incentive package comes with $2 billion in state money for transportation infrastructure projects in the county. Again, if Amazon doesn’t choose Montgomery County for its HQ2, we don’t get the state money.