Amazon to Open Operations Center of Excellence in Nashville Yards in 2021
Nashville’s Mayor said of Amazon selecting Nashville, “(Amazon) saw what a lot of people are saying about Nashville, that it’s a good place to invest right now.”
It’s not surprising Amazon is bringing 5,000 executive jobs to Nashville being that the state boasts position number eight in the country for the most employee tax friendly. The other seven states being more remote and not half as exciting as Nashville.
Nashvillians should not be concerned that the company will pull back from its commitment of bringing a record 5,000 jobs to the city, Holly Sullivan, head of Amazon’s economic development team worldwide, and Jodi Seth, Amazon’s head of policy communications, reaffirmed recently after Amazon pulled the HQ2 deal out from New York.
So, just what is the list of incentives the state of Tennessee and Metro Nashville is giving to Amazon for them to move in?
Amazon will receive;
A total of $102 million in combined state and city government incentives.
Here’s the incentives package break-down;
- Amazon building will be located in Nashville Yards development in downtown near The Gulch.
- $65 million cash grant for capital expenditures.
- $15 million from Metro Nashville based on $500 for each job created over seven years.
- $21.7 million in job tax credits based on $4,500 per job over seven years to offset state franchise and excises taxes.
- $15 million contribution from Metro Nashville.
Nashville will receive;
- 5,000 jobs with an average wage of more than $150,000.
- $230 million invested in Nashville by Amazon (executive building construction)
In comparison here are other deals the state of Tennessee and Nashville Metro have provided other companies;
- $56 million to Bridgestone Americas for 1,700 jobs.
- $66 million to HCA for 2,000 jobs.
- $122 million to Dell
- $800 million to Volkswagon
- $600 million to Nissan that has provided 10,000+ jobs.
- $400 million to Hemlock
The total monetary impact expected from Amazon’s move to Nashville is expected to reach $1 billion indirectly.
“These kind of deals you win once in a lifetime,” Angelos Angelou, a site selector said. “The economic impact is going to far exceed the incentive package.”
Nashville’s Mayor said of Amazon selecting Nashville, “(Amazon) saw what a lot of people are saying about Nashville, that it’s a good place to invest right now.”
