Amazon is a massive online retail company that has expanded its reach worldwide. As part of its global expansion, Amazon is building a new headquarters in New York City. The new headquarters will be located in Queens, and it is expected to bring over 25,000 jobs to the city.
The project was first announced in 2017 and was met with mixed reactions from local politicians and citizens alike. Some welcomed the new jobs and investment that Amazon would bring to the area, while others were concerned about potential negative impacts on local businesses and real estate prices.
Amazon’s plans for the new headquarters include two buildings totaling 8 million square feet of space.
It is estimated that these buildings will cost around $3 billion to construct and will include office space, retail outlets, a conference center, and residential units. The company also plans to invest $5 billion into infrastructure upgrades in the surrounding neighborhoods.
Construction on Amazon’s new headquarters began in 2019 and is expected to be completed by 2022. Once complete, it is estimated that the project will generate an additional $27 billion in revenue for New York City over 25 years.
Amazon’s new headquarters in Queens will be a major addition to New York City’s economy. Not only will it create thousands of jobs for local residents, but it will also attract investment from other companies looking to take advantage of this booming market.
Conclusion:
In conclusion, Amazon is building its newest headquarters in Queens, New York City that has an estimated value of $3 billion and is expected to generate billions more over 25 years. Once complete it will create thousands of jobs for local residents as well as attract investment from other companies looking to capitalize on this booming market.
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