Yes! The news is right, Amazon steps back from its promise of opening its new complex in New York and helps to create about 25,000 new jobs.
Well, before going in-depth into the matter, let’s wide up with the information about one of the world’s richest company Amazon.
As many knows, Amazon is a multinational company mainly focused on fields like e-commerce, working in AI, cloud computing, Amazon publishing, Amazon bookstore, Amazon Studios and many more.
Jeff Bezos, started the company in 5th July on 1994 in beginning its just an online bookstore later it was modified as the online based video, MP3, downloading/streaming business. As time progress and witnessed huge success in the market, Amazon started its own publishing arm, where they started to step into filming, television studio, and so.
In 2015, Amazon reached the highness of becoming the largest firm that makes revenue by the internet and positioned 2nd in terms of large employers in the United States of America.
Why is named as Amazon?
The founder Bezos liked to name his company starting with the Alphabet ‘A’ and later he developed to form a word that appears in alphabetic order “Amazon”. The exact meaning for the word Amazon is exotic and Different.
During the initial period, the company ran in a car shed, where it sold its first book Fluid Concept & Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought.
Fascinating Facts about Amazon
- The Logo for current Amazon has hidden truth. The arrow that starts from alphabet A and ending in the letter Z tells all the things which consumers looking will be available at the store. The smile arrow mark indicates the happy deliver anytime, anywhere.
- The company faced hard times during its initial 10 years and it was totally unprofitable but later everything turns around.
- During the initial period of business, Amazon operated with a huge programming error that allowed several customers to fool Amazon.
- The first-ever employee of the company Amazon was Shel Kaphan. In addition, Jeff Bezos wife too worked during the initial period.
- The first-ever profit of $5 million was experienced by the Amazon after almost 7 years of completion.
- Recently, due to the Amazon server down for nearly 50 minutes the company suffered a lump sum loss of nearing 6 million.
- So far, the company employed around 1, 20,000 employees all over the world and numbers seem like facing promising growth on yearly basis.
Products and Services offered by Amazon
- Amazon Fresh
- Amazon Prime
- Amazon Web Services
- App store
- Amazon Drive
- Fire tablets
- Fire TV
- Kindle Store
- Music Unlimited
- Amazon Digital Game Store
- Amazon Studios
- Amazon Wireless
Amazon on dropping NYC headquarters
On 2017, the current president Donald Trump offered various incentives for the investors to start their businesses under the new “Opportunity Zones”. As a result of this announcement, several enriched firms including banks, insurance companies showed their interest in stepping into the new businesses to avail the advantage.
Amazon too planned to set up its new complex and headquarters in NYC under the newly announced “Opportunity Zones”.
Amazon has announced that it will start its new complex in NYC and create a new operational headquarter in New York City. By doing so, the company promised on creating around 25k new jobs. Well, the hidden truth is the entire plan was made on calculating the advantages of “Opportunity Zones”.
What is Opportunity Zone?
Based on the U.S census report, people who meet the criteria of being in low poverty state or receiving a significantly low amount of incomes are nominated by the respective states to avail a designation place where they can start their own business. If the designation ends up being in the urban zone, a few square blocks will be allocated.
In simple wordings, the Opportunity zones specially created for boosting lower people to an experienced steady income.
Questions Raised by Critics
After witnessing the process done under the opportunity zones, the entire concept of allowing wealthy business firms and individuals to start a new business with various incentives offered in the tax money of poor was severely criticized by several activities and politicians. Because under this scheme, several developed companies including banks, private firms, Amazons looked to take advantage of this opportunity zones.
Well, recently the Seattle giant released its note via in a blog post by pointing as “Company took a decision to drop the plan of creating new headquarters in NYC – We Love New York”. Earlier, Amazon planned to create its new headquarters in the view of Manhattan. That place falls well within the limit of 200 opportunity zones.
Activities had pointed out that around $2.5 billion subsidies gained by Amazon. It evoked the critics to raise questions. Though the company issued a statement of not using the opportunity zones for tax breaks in the month of January still, it could benefits indirectly in several other ways.
As the company felt not to involve in any such debate or battle in this issue, Amazon instantly pulled out its entire plan of creating new headquarters in NYC. The news came from the official blog post of Amazon and it also conveyed that the company doesn’t have any other replacement plan at this time.
It seems like the company in no mood of opening its new headquarters or expanding its office in NYC. Several activities in the U.S considered the Amazon pull out as their victory against the world’s one of the richest businessmen.
On responding to the statement released the one of the world’s largest company Amazon’s pullover in NYC, Rizer the Loudoun County Development Director conveyed in a written statement as the decision made by Amazon on its own and we have nothing to do on it. And we are still looking for the potential users to make use of the opportunity zones.