caption Amazon CEO Jeff Bezos. source Reuters Amazon announced it is splitting its second headquarters, or “HQ2”, between Virginia and the the Long Island City neighborhood of Queens in New York City. Long Island City is a designated “opportunity zone,” a tax benefit scheme that was rolled out as part of President Trump’s tax reforms. Opportunity zones are meant to encourage businesses to invest in low-income areas, but critics have pointed out that Long Island City is not low-income. Amazon announced on Tuesday that its second headquarters, dubbed “HQ2,” will be split between the Long Island City neighborhood of Queens, New York and Arlington, Virginia. Reports emerged on Wednesday that the Long Island City location could give Amazon and other investors in the area considerable tax breaks, as it is part of an “opportunity zone.” Opportunity zones were introduced as part of President Trump’s tax reforms, and offer tax benefits worth potentially millions of dollars to companies for investing in low income areas. Some critics have questioned why Amazon’s new neighborhood is eligible, as its median income is $130,000. “All you have to do is look at the skyline from Manhattan. You can see billions of dollars of private investment… Read full this story
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