Amazon will not use Opportunity Zone tax break for HQ2

Amazon had been criticized for locating their HQ2 in an opportunity zone in Queens, New York. As it turns out, they will not be taking advantage of the tax break after all.

From Bloomberg:

“We will not be using the opportunity zone on this project,” Holly Sullivan, head of economic development at Amazon, told the City Council in a Wednesday hearing on the development’s finances.

Read more: Amazon Says It Won’t Use Opportunity Zone Tax Break in New York City

Jimmy Atkinson

Jimmy Atkinson

Hi, I'm Jimmy Atkinson... I founded OpportunityDb in August 2018. I'm a veteran Internet entrepreneur with a background in economics and Web marketing. I previously founded ETFdb.com. These days, I am passionate about impact investing and tax-advantaged investment opportunities. At the crossroads of these two ideals is the opportunity zones program, a place-based tax policy intended to economically transform some of the poorest areas of the United States with new real estate and business development.

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