Amazon is growing its footprint in New York City -- just not in Queens and without any subsidies.
About a year after canceling plans to open up a new headquarters in the borough of Queens, the company said it has leased a 335,000 square feet office in Midtown Manhattan, according to a Wall Street Journal report late Friday. Amazon (AMZN) - Get Report shares rose 0.64% Friday to close at $1,751.60.
The Queens plan included $3 billion in state and local incentives to lure a large Amazon headquarters complex to the city. Amazon's home headquarters is in Seattle. The company withdrew from the Queens plan amid political backlash over the incentives, choosing instead to expand in Virginia, near Washington D.C. The new Manhattan space, which is in the Hudson Yards area, will house 1,500 employees. Amazon already has 3,500 employees in its New York City tech hub, according to the WSJ, and several thousand more in fulfillment centers in the area.