Homepage / Technology / OK, Amazon, here are some cities you should consider calling 'home'
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election


OK, Amazon, here are some cities you should consider calling 'home'

Amazon is wrapping up what amounts to a contest with a multibillion-dollar prize for the North American city that becomes the site of the online retailer’s second headquarters.

Based on the response, the company will have a tough time making a decision, and CNBC wants to help.

To get the bidding started last month, Amazon promised to invest more than $5 billion and hire 50,000 people its new headquarters, which it says will rival its sprawling Seattle campus in size and scope. In return, state and city governments are expected to offer generous tax benefits and other incentives.

The result has been a flood of pitches from across the country, from big cities such as New York and Chicago to small regions such as Lehigh Valley, Pennsylvania. More than 100 cities and counties have expressed interest.

Those proposals, due Thursday, sought to highlight each city’s strengths, based on the wish list the company created to help it find the perfect spot for its new campus.

The list included a population of more than 1 million people, an international airport, mass transit, quality higher education, an educated workforce and a solid business climate.

So, to help the world’s largest e-commerce company narrow down its search, CNBC looked at some of the key criteria the online retailer laid out in its pitch to cities and states.

To measure how prospective cities stack up, we started with at the list of cities with at least 1 million people and then ranked them in five categories: local airport traffic, mass transit ridership, the number of accredited higher educational institutions, the share of the workforce with at least a college degree and the pace of job growth over the last 12 months.

In its request for proposals, the company wasn’t shy about asking states and cities to cough up incentives — from donated land to breaks on taxes and fees to relocation subsidies.

In return, Amazon pointed to its Seattle headquarters as a sign of what it could bring to a new host city. Its workforce has grown to more than 380,000 from less than 25,000 since it moved to downtown Seattle in 2010, the company said.

“We want to find a city that is excited to work with us and where our customers, employees, and the community can all benefit,” Amazon said.

The company has a strong track record of tapping state and local governments’ generosity. Amazon has been awarded 70 state and local subsidies, totaling at least $732.79 million in value, since 2000, according to nonprofit Good Jobs First. Texas leads the way with granting the most subsidy value to Amazon, followed by Kentucky, Ohio and Illinois, the group told Reuters.

But it remains to be seen which cities and states will step up to participate in Amazon’s bidding war.

Until then, the competitors can tout the infrastructure and workforce characteristics the company is targeting. When we ranked the top 20 cities in each of those criteria, some of them began to stand out.

Beyond the incentives it gets from state and local governments, Amazon will need to secure enough land for a sizable complex. Its current Seattle campus includes 8.1 million square feet of space in 33 buildings and employs more than 40,000 people.

The company said its new second headquarters would initially need more than 500,000 square feet and up to 8 million square feet beyond 2027.

But first it needs to pick a city. To better rank them overall, we gave each city points based on how they rank in Amazon’s criteria and then added up the score. Based on those results, Amazon might want to give New York, Atlanta, Chicago, San Francisco and Boston a close look.

Here’s how we came up with our list:

The company isn’t limiting its search to the U.S. In its proposal, Amazon said it’s looking for a location in North America, and asked for proposals from states, cities or provinces. For our search, given the challenges of locating in Cuba, Haiti or Guatemala, we limited the starting list to the U.S., Canada and Mexico.

With 11 cities of sufficient population, Mexico offers some intriguing prospects for an online retailer with global ambitions. Those cities play host to some of the features Amazon is looking for, including mass transit, international airports, and colleges and universities.

But we eliminated Mexican cities for a simple, unscientific reason. It seems likely that Amazon would face enormous political backlash, especially from President Donald Trump, who has complained bitterly about companies moving jobs to Mexico.

The president has also has criticized Amazon for doing “great damage” to retailers, costing jobs in cities and states. (Not to mention Trump’s Twitter broadsides against The Washington Post, which is owned by Amazon CEO Jeff Bezos.)

For the rest of Amazon’s wish list, we looked at public transportation ridership, workforce educational attainment, local area job growth, airport passenger traffic, and the number of accredited post-secondary education institutions in each city. For the top 20 in each category, we gave 20 points for the number one rank, 19 points for the second rank, and so on.

Amazon has said it will select the location sometime next year.

Source: Tech CNBC
OK, Amazon, here are some cities you should consider calling 'home'

Comments are closed.