CLOSE

Seattle-based mostly Amazon is on the lookout for one other metropolis to construct its second headquarters and has plans to take a position $5 billion and create 50,000 jobs. Jane Lee stories.&#thirteen;
Video offered by Reuters
Newslook

 

 

When Amazon introduced plans to open a second North American headquarters final week, Cincinnati joined a unique, nationwide competition for the trophy project.

Cincinnati Mayor John Cranley told CNBC that the city “will be very aggressive on tax incentives to land this incredible opportunity,” which would bring 50,000 jobs and $5 billion in capital expenditures to the community that succeeds.

Short lists of top contenders created by national business and tech sites by and large point to other communities’ chances as better than Cincinnati’s. Nonetheless, local officials are expressing their determination to win the prize.

The stakes are enormous, economic-development experts say.

“Cities constantly compete for firms, but the potential impact of Amazon means that the scale of this competition will be historic,” Joseph Parilla of the Brookings Institution’s Metropolitan Policy Program writes at fortune.com. “If done right, one U.S. city could transform its economy while setting a new model for corporate attraction.”

Parilla says tax incentives will certainly play a role but suggests cities put their best foot forward by marketing attributes including “skilled workers, well-connected infrastructure, vibrant places, and good communities.”

Amazon has said it wants its “HQ2” to be near a metropolitan area with more than a million people; be in an area where it can attract and retain top technical talent; have access to mass transit; and be within 45 minutes of an international airport, among other criteria.

“We meet all of their requirements,” said Joshua Wice, vice president of operations and strategic initiatives at REDI Cincinnati, the region’s lead economic development agency.

Wice pointed out that Amazon has yet to rule out any contenders.