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Newark tries to lure Amazon

Amazon is running a brilliant free PR campaign

Amazon’s Jeff Bezos (Credit: David Paul Morris/Bloomberg via Getty Images)

Newark is ready to offer nearly $1 billion in tax breaks to any company that creates 30,000 jobs and invests $3 billion in the city over the next 20 years, according to Bloomberg. Hello Amazon!

Worth Noting: If Amazon decides to build their headquarters elsewhere (likely), the payroll tax exemptions would apply to other companies as well. 

Heard on the Street: “The whole public auction was staged to make everyone more aggressive… They’re trying to take advantage of the huge number of bids that never had a prayer to get leverage on the places that were already on the shortlist.”

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