Amazon announced Thursday that it was canceling its plan to build a portion of its HQ2 project in New York City, according to a company statement.
Why it matters, via Axios' David McCabe: This is a huge surprise. The deal was built — with the support of Gov. Andrew Cuomo and Mayor Bill de Blasio — to avoid almost all scrutiny from elected officials. But it turns out one of the world's most valuable companies would rather fold than continue confronting the aggressive backlash from the city's community activists and municipal officials.