Amazon's (AMZN) HQ2 project coming to Long Island City, New York has not been well received by many New Yorkers.
To address the many concerns about the project, including the billions of dollars in incentives provided by the city, The New York City Council will hold a series of public hearings on the Amazon's HQ2 project over the coming months. The first meeting is being held today, Wednesday, December 12, by The Committee on Economic Development.
The hearing, which is open to the public, has been interrupted a few times by protestors, who believe that the money could be better spent elsewhere. The Speaker of the Council, Corey Johnson, was applauded when he questioned why Amazon, which has close to a $1 trillion market cap, needed the city's money, "...we have crumbling subways, crumbling public housing, people without health care, public schools that are over crowding. Why do you need our $3 billion?"
Brian Huseman, Amazon's Vice President of Public Policy, who was there as the company's representative, said, "this project will be a positive economic impact for The City and The State. We're here to create jobs and not only our 25,000 direct jobs, but the thousands of indirect jobs that will result from this."
Another point of contention was the helipad that Amazon plans on building, which Speaker Johnson said was very out of touch with the average New Yorker, but Huseman did say that Amazon would be paying for that, not the city
Keep reading TheStreet for more coverage on Amazon's HQ2.