Amazon.com Inc. (NASDAQ: AMZN) could have received its first HQ2-tied incentive payment from Virginia this July, based on its payment schedule with the commonwealth — but it has yet to apply for any funding, pushing disbursement at least three years into the future, the Washington Business Journal has learned. The e-commerce and cloud computing giant’s memorandum of understanding with Virginia requires it to formally apply for cash incentives based on its local hiring progress and capital investments, payments that could reach $750 million by 2039. To this point, the company has instead submitted progress reports to the commonwealth in April 2020, April 2021 and April 2022. The Washington Business Journal has obtained those reports through a Freedom of Information Act request. Under the MOU, agreed to in 2019, Amazon is required to submit its first application for payment no later than April 1, 2023. The choice to delay will push its first payment to at least July 1, 2026, the amount of which will be based on Amazon’s performance through Dec. 31, 2022, said Suzanne Clark, spokeswoman for the Virginia Economic Development Partnership. In a statement, Amazon said it never intended to apply for payments prior to 2023. The […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
