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EyeintheSky Active Indicator LED Icon 9
~ 5 years ago   Feb 16, '19 9:48pm  
And why didn't AOC tell people about the 5 billion of development Amazon had committed to do in their NYC location? 5 billion!
 
@AllHailTheQuisp : So if they can afford to put this much into WHY do they need bribes from taxpayers? What so they have even more money not to pay taxes on BUT it ok because it will be a trickle-down effect on the area? NO it will be price increases starting with housing stock since all these people will be moving into the area demand will go up and supply goes down. So then the prices go even higher what few little spaces are left. I see this as no different than what Peoria tried with hotel give money away and hope for some huge return on it and all we got was stuck with more debt and no piece in the hotel. What would have kept them there for any amount of time they could have gotten 1 check and left. Said screw it we want better deal elsewhere. Kinda like cat did wife wanted to move so CEO said OK we move. Toss all the plans out the window and leave city hanging in the balance.
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AllHailTheQuisp Active Indicator LED Icon 8
~ 5 years ago   Feb 16, '19 10:00pm  
hotel give money away
 
@EyeintheSky : The hotel was not a business that was moving into the area to employ thousands of people like Amazon.
 
Tax breaks? It's how business has been done for decades! The tax breaks for Amazon were nowhere near the money the business would have dumped into NYC over the years.
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EyeintheSky Active Indicator LED Icon 9
~ 5 years ago   Feb 16, '19 10:09pm  
The tax breaks for Amazon were nowhere near the money the business would have dumped into NYC over the years.
 
@AllHailTheQuisp : Says who some crooked politician? Do you really think they would stay for 25 years? The hotel was supposed to help draw bigger conventions because of the stupid bridge. Which would have been thousands a year to the area.
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AllHailTheQuisp Active Indicator LED Icon 8
~ 5 years ago   Feb 16, '19 10:13pm  
Says who some crooked politician?
 
@EyeintheSky : No. It's called basic economics.
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EyeintheSky Active Indicator LED Icon 9
~ 5 years ago   Feb 16, '19 10:16pm  
so how long to recoupe 1bn in sales tax? this is what is wrong it not anything less than a bribe. May as well just offer them a truck full of cash.
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AllHailTheQuisp Active Indicator LED Icon 8
~ 5 years ago   Feb 16, '19 10:21pm  
it not anything less than a bribe.
 
@EyeintheSky : I can't help that you don't understand basic economics, or how large business models work. Go yell at someone else.
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EyeintheSky Active Indicator LED Icon 9
~ 5 years ago   Feb 16, '19 10:22pm  
basic economics,
 
@AllHailTheQuisp : WOW!! No wonder we are in the trouble we are in.
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DennisinMH Active Indicator LED Icon 12
~ 5 years ago   Feb 16, '19 10:45pm  
@EyeintheSky :
Hotel was not only development that the city ended up on wrong end of a bad deal.
Mid-town/Cub Foods
Firefly
 
What else? (Riverfront Museum is County, not city, and not a business)
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EyeintheSky Active Indicator LED Icon 9
~ 5 years ago   Feb 16, '19 11:10pm  
EyeintheSky : Hotel was not only development that the city ended up on wrong end of a bad deal. Mid-town/Cub Foods Firefly What else? (Riverfront Museum is County, not city, and not a business)
 
@DennisinMH : Just the most expensive to date is all. Hope to God they NEVER loan a dime again obviously in an investment group or bank won't loan someone the money there are issues with them. The City is not a bank and has no reason to be loaning money that is a banks job.
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cjsummers Active Indicator LED Icon 17 OP 
~ 5 years ago   Feb 17, '19 4:15am  
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mypeez Active Indicator LED Icon 14
~ 5 years ago   Feb 17, '19 5:29am  
@cjsummers : Good reads, but curious if you are opposed to TIFs and Enterprise Zones? These still seems to be reasonable incentive mechanisms for investment in underperforming areas. Watching any episode of This Old House will immediately affirm that building new is cheaper and faster than rehabbing something old.
 
Absolutely there is a point of diminishing (into negative) returns like with Amazon's HQ average outlay of $120k/job to create a $30k warehouse job making no sense, but I'm not sure that I'd rule all projects with some level of public investment as boondoggles. Curious if anyone has the numbers for Shoppes at Grand Prairie, IE jobs and sales tax over the 20 years versus original public dollars inputted (War Memorial improvements, etc. )?
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AllHailTheQuisp Active Indicator LED Icon 8
~ 5 years ago   Feb 17, '19 7:12am  
It's not basic economics
 
@cjsummers : It's been going on with big businesses around you your entire life. And then some.
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HipKat Active Indicator LED Icon 16
~ 5 years ago   Feb 17, '19 7:27am  
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AllHailTheQuisp Active Indicator LED Icon 8
~ 5 years ago   Feb 17, '19 11:16am  
I hope minority business owners also inform her of all the tax incentives she has denied them, and how all this put the kibbosh on accelerating the development of minority-owned businesses in NYC. Economics 101.
 
She also neglected to inform her followers that the incentives were performance-based. Another Econ 101 topic.
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EyeintheSky Active Indicator LED Icon 9
~ 5 years ago   Feb 17, '19 11:25am  
Shoppes at Grand Prairie, IE jobs and sales tax over the 20 years versus original public dollars inputted
 
@mypeez : www.pjstar.com/artic le/20130810/NEWS/308 109941
 
Found this but no numbers just all hype from the developer with some store stats. No hard numbers on sales or taxes though.
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