John Banks, President of the Real Estate Board of New York, today released the following statement regarding Amazon’s new headquarters in Long Island City. The 25,000 new jobs created through the project will deliver over $27 billion in new tax revenue to benefit Queens residents as well as New Yorkers across the five boroughs.
“From generating tens of billions in new tax revenue, to creating good-paying jobs, to supporting the real estate market, to making our economy more resilient, this project is absolutely critical for New York. It’s a once-in-a-generation opportunity to position our city and our economy for the future. As homeowners across Queens see their property values rise, more than $27 billion in tax revenue for the city and state will help fund critical services across the five boroughs. We, as a city, must keep moving forward, and this new headquarters is a major moment to do just that.”