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Amazon chose Crystal City (left) and Long Island City in New York (right). Photos: Getty Images.

Amazon will split its HQ2 between Virginia’s National Landing and New York’s Long Island City, with construction starting as soon as 2019 for new offices to house the 25,000 high-paid tech jobs each city will get. Nashville was also chosen for a new operations center and slated to receive 5,000 jobs.

Why it matters: Dozens of cities vied for the promise of new jobs, economic stimulus and the cachet of "tech hub." For the winners, the new Amazon headquarters came at a price: New York is giving Amazon $1.5 billion in tax credits and other incentives; Arlington is offering $573 million; and Nashville $102 million per the Washington Post.

Both cities for HQ2 fit the ideal of what Amazon asked for: business-friendly metropolitan areas with plenty of transportation options and room for real estate development. In Virginia, what Amazon is calling National Landing, real estate firm JGB Smith agreed to give Amazon exclusive rights to lease space in its buildings and to buy its land holdings, according to Seeking Alpha.

  • Amazon will lease about 500,000 square feet of existing space at three different buildings and will purchase Pen Place and Met 6, 7, 8 land in JBG Smith's future development pipeline with estimated potential development density of up to 4.1 million square feet.
  • Locals are already complaining about the name of the newly branded neighborhood, now called "National Landing," per BuzzFeed.

Long Island City's plan will include a helipad. But the city isn't asking the company to help out with New York City's subway reconstruction, per Slate.

  • Amazon will instead fund projects in Queens “including but not limited to streets, sidewalks, utility relocations, environmental remediation, public open space, transportation, schools and signage.”
  • Citi is moving more than a third of its 3,000 employees from One Court Square in Long Island City to make room for Amazon, reports Seeking Alpha. Amazon will lease about 1 million square feet of office space in One Court Square.

The bottom line: Finalists that offered big incentive packages like Toronto, Maryland and New Jersey may have dodged a bullet. Since the announcement, public officials have been airing their grievances on the negative effects the e-commerce behemoth would have moving into their neighborhoods. Go deeper:

Go deeper

Dion Rabouin, author of Markets
20 mins ago - Economy & Business

The Fed could be firing up economic stimulus in disguise

Federal Reserve governor Lael Brainard at a "Fed Listens" event. Photo: Eric Baradat / AFP via Getty Images.

Even as global growth expectations increase and governments pile on fiscal spending measures central bankers are quietly restarting recession-era bond-buying programs.

Driving the news: Comments Tuesday from Fed governor Lael Brainard suggest the Fed may be jumping onboard the global monetary policy rethink and restarting a program used following the 2008 global financial crisis.

Democrats' hypocrisy moment

Illustration: Eniola Odetunde/Axios. Photo: Ray Tamarra/Getty Images

Gov. Andrew Cuomo should be facing explicit calls to resign from President Biden on down, if you apply the standard that Democrats set for similar allegations against Republicans. And it's not a close call.

Why it matters: The #MeToo moment saw men in power run out of town for exploiting young women. Democrats led the charge. So the silence of so many of them seems more strange — and unacceptable by their own standards — by the hour.

Police officers' immunity from lawsuits is getting a fresh look

Illustration: Aïda Amer/Axios

Nearly a year after the death of George Floyd, advocates of changes in police practices are launching new moves to limit or eliminate legal liability protections for officers accused of excessive force.

Why it matters: Revising or eliminating qualified immunity — the shield police officers have now — could force officers accused of excessive force to personally face civil penalties in addition to their departments. But such a change could intensify a nationwide police officer shortage, critics say.