Amazon.com, Inc. (NASDAQ:AMZN) has dozens of U.S. cities bending over backwards to become the site for its second headquarters, dubbed HQ2.
The retail behemoth recently pared its list of potential landing spots down to just 20, with a final decision expected at some point this year. Amazon is reportedly asking for major concessions from the cities involved in order to pick the winner, but not all municipalities are willing to do whatever it takes to gain favor.
In fact, as Business Insider reports, Boston is among the finalists that’s taking a much more firm approach:
Boston Mayor Marty Walsh hinted at his city’s plan to lure Amazon’s HQ2 – and it doesn’t include $5 billion.
In an interview on Bloomberg Radio Monday, Walsh said, “No one’s really approached us on what [financial] incentives are needed, if any.”
Walsh went on to describe the city’s location, workforce, and number of colleges and universities as “incentives” for Amazon.
Walsh noted that unlike what’s being reported from other cities, he has no interest in offering billions in financial incentives for Amazon. “You can’t give away $5 billion. You just can’t,” he said. “That’s a lot of money.”
Instead, Walsh is targeting the sort of infrastructure and other civic upgrades that would benefit all Bostonians, not just those that wind up working for Amazon. The city has pegged Suffolk Downs, a former thoroughbred horse racetrack in East Boston, as an ideal site for HQ2.
Amazon.com, Inc. shares rose $7.93 (+0.55%) in premarket trading Monday. Year-to-date, AMZN has gained 22.35%, versus a -0.24% rise in the benchmark S&P 500 index during the same period.
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