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Amazon HQ2 Finalists Have Some Residents Concerned

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Amazon HQ2 Finalists Have Some Residents Concerned

Amazon HQ2 Finalists Have Some Residents Concerned

Last week, Amazon announced its list of 20 finalist cities that are eligible to be the new home of the corporation’s second headquarters. While some are excited about the possibility of welcoming a new Amazon headquarters to their city, other residents are worried about potential negative impacts of this move. One of the biggest concerns is regarding gentrification and an increase in housing prices. This concern comes after the home prices in Seattle have risen tremendously since Amazon made its mark on the city. The new headquarters is expected to cost $5 billion and bring 50,000 new jobs to whichever city it chooses. Of course, there are pros and cons to bringing such a major headquarters to a city. Some of the positive aspects that Amazon brought to Seattle include a number of new businesses and boosting the economy. However, critics say that the rise in home prices has catered the entire city to a wealthier market, leaving people of a lower financial status with nowhere to go.

It will be interesting to see which city Amazon chooses for its second headquarters as well as the impacts that bringing such a large change to the city will have. Some of the finalists include New York City, Newark, Boston, and Nashville.

If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation. We provide Amazon business accounting services to clients throughout the United States. 

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