Amazon is asking Virginia for the first tranche of state incentive funds that it promised it would pay out for its H2Q headquarters. This comes as economic uncertainty is intensifying the debate over the worthiness of investment incentives.
Amazon filed a grant application on March 31 seeking $152.7 million — the first installment due to the tech giant related to its decision to build a second headquarters complex in Arlington County, according to the Associated Press. Under the deal, Amazon is meant to create 25,000 jobs by 2038 – with the application stating that Amazon's confidence is "high" that it will meet the requirement despite pausing the centerpiece of its new campus, the Pen Place Development project, the AP reported.
If approved, the money will not be paid until at least July 2026 as per the deal.
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