Amazon has recently decided to search for a city to build their second headquarters. Their first headquarters is located in Seattle. It currently occupies 8.1 million square feet of office space and jobs for 40,000 employees. The company said it expects to invest more than $5 billion in the new location and hiring as many as 50,000 high-paying jobs.
Seattle has benefited greatly from the companies instant progression. According to Green Street, Amazon is responsible for one third of the jobs created in the city since 2010. The successful growth has had a multiplier effect in the economy such as an increase in residential prices, retail rents and demand for other property within the city. The company was able to help Seattle create one of the strongest real-estate markets in the United States.
The company's search for a new location for the second headquarters will be competitive for the biding cities. More than twelve cities have expressed their desire to become the company's new location choice. Therefore, the cities will have to advertise themselves to Amazon to win the companies vote. The geographic market is very important for a business considering that it can make or break the business. The company has to research many details before deciding, such as the current and future behavior. Amazon's desire to search for a second headquarters could be to target an area that could bring along new talent into the company, as it will be very beneficial.
https://www.wsj.com/articles/amazons-search-for-a-second-headquarters-could-weigh-on-seattles-growth-1507384800
By: Mashel Alfawaz
Article Published: October 7, 2017 -- 10:00 a.m.
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