Maryland Gov. Larry Hogan unveiled new details about the state’s proposal to lure Amazon HQ2, including up to $2 billion in transportation and infrastructure improvements.
Hogan said Monday that Maryland intended to file legislation calling for $5 billion in incentives, including a state income tax credit of 5.75 percent of wages for each new job created. While the legislation does not mention Amazon specifically, it is clearly worded to apply to Amazon and its efforts to build a new 8 million square-foot headquarters. The tax breaks are believed to be worth about $3 billion, with transportation and infrastructure upgrades comprising the remainder of the incentives.
Last week, Amazon announced the 20 finalists for HQ2, which included Montgomery County, the District of Columbia and Northern Virginia. Competition for the massive headquarters project has been stiff, with jurisdictions offering a wide range of tax incentives and other benefits to lure the e-commerce king. Amazon’s new headquarters could bring as many as 50,000 jobs, according to some estimates.
More specifics on the transportation incentives are still unknown. Hogan spokesman Doug Mayer told the The Washington Post that the governor would release more information on those plans when “it is strategically advantageous to do so.” In its request for proposals to cities, Amazon said transportation and infrastructure capacity would be a part of its evaluation.
Click here to sign up for commuter news and real-time traffic updates for free, delivered to your inbox Mondays, Wednesdays and Fridays.