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Details of Nashville's Deal With Amazon Revealed
"[Tennessee] officials on Tuesday announced the deal for Amazon's Operations Center of Excellence to be housed at the new Nashville Yards development in downtown near The Gulch," reports Joey Garrison
A total of $102 million in government incentives is headed to Amazon in the deal that was a surprise twist in the HQ2 saga that culminated earlier this month.
The state of Tennessee has set a precedent for offering lucrative deals to companies in exchange for economic development opportunities. "It's one of the most lucrative state incentive packages ever for Nashville, but an amount considerably less than was awarded to Volkwagen, Nissan and Hemlock Semiconductor for other past economic development announcements in Tennessee," according to Garrison.
"The 'performance-based direct incentives' are contingent on the company creating 5,000 jobs with an average wage of more than $150,000," adds Garrison. Incentives include cash grants and job tax credits. More details of the incentives are included in the source article.