Amazon plans to invest over $5 billion in HQ2

08 Sep '17

2 min read

Courtesy: Amazon

American e-commerce giant Amazon has announced its plan to invest more than $5 billion in the construction and operation of its second headquarters (HQ2). The new headquarters in the city of North America will be equal to Amazon’s headquarters in Seattle, and is expected to grow to 50,000 employees as part of the company’s ongoing job creation plan.

In addition to Amazon’s direct hiring and investment, construction and operation of Amazon HQ2 is expected to create tens of thousands of jobs in construction and related industries, and generate tens of billions of dollars in additional investment in the city where Amazon HQ2 is located.

"We expect HQ2 to be a full equal to our Seattle headquarters," said Jeff Bezos, Amazon founder and chief executive officer. "Amazon HQ2 will bring billions of dollars in up-front and ongoing investments, and tens of thousands of high-paying jobs. We are excited to find a second home."

In choosing the location for HQ2, Amazon has a preference for metropolitan areas with more than one million people, a stable and business-friendly environment, urban or suburban locations with the potential to attract and retain strong technical talent.

Amazon HQ2 will be a complete headquarters for Amazon and not a satellite office. Amazon expects to hire new teams and executives in HQ2, and will also let existing senior leaders across the company decide whether to locate their teams in HQ1, HQ2 or both. The company expects that employees who are currently working in HQ1 can choose to continue working there, or they could have an opportunity to move if they would prefer to be located in HQ2. (RR)

Fibre2Fashion News Desk – India

More Amazon News... More Textiles News - United States Of America...