AMAZON SHOPPING FOR NEW HOME. Amazon Narrows Its List – By Todd Horwitz, Bubba Trading

 

AMAZON SHOPPING FOR NEW HOME

Amazon Narrows Its List

Amazon.com Inc. unveiled a shortlist of metropolitan areas for its planned second headquarters, kicking off the next phase of what has emerged as one of the fiercest competitions for corporate investment in decades and a showcase for the tech giant’s growing influence on the American business landscape. The finalists, chosen from among 238 places that applied in October, included New York, Boston and Chicago, all big cities with convenient access to airports, robust tech talent and sufficient mass transportation.

The e-commerce giant received 238 proposals from cities in North America, many with lofty tax incentives and unique offers directed at CEO Jeff Bezos. “Getting from 238 to 20 was very tough — all the proposals showed tremendous enthusiasm and creativity,” Holly Sullivan, an executive with Amazon Public Policy, said in a statement.

The 20 places that are moving on in the selection process will work with Amazon over the coming months to “evaluate the feasibility of a future partnership,” the company said. Amazon expects to make a final decision this year. An analysis by CNBC determined that the Charlotte/Raleigh-Durham area of North Carolina best matched Amazon’s criteria.

The race puts Amazon in the position of kingmaker for cities across North America at a time when its business is booming. The company is now not only the largest U.S. online retailer, but also makes its own tablet and speaker devices, sells cloud-computing services, is building a significant content delivery network and recently has made a big push into groceries. Last year it bought Whole Foods, adding more than 470 brick-and-mortar stores, and helping boost its workforce to more than 540,000.

The growth has pushed Amazon’s revenue to record heights, reaching $43.7 billion in the third quarter, more than double the total three years earlier. During that period, the company’s stock roughly tripled, and on Thursday closed at $1,293.32, near its all-time high. It also has started to outgrow its headquarters in Seattle where it employs more than 40,000 people and dominates a significant piece of the city’s downtown

Keep those stops tight
Todd “Bubba” Horwitz

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Todd Horwitz - Author of “Average Joe Options“. Todd began his trading career in 1980 at the CBOE. He was one of the original traders in the OEX & helped start the SPX. He is a member the CME where he trades S&P futures as well as foreign currencies & is a regular contributor to CNBC, Bloomberg, BNN, Fox & many other major news networks.