"If Amazon keeps up its end of the bargain by creating 25,000 jobs, it is eligible to receive direct incentives of $1.525 billion," Mary Hanbury reports. "These are rebates on tax paid on employees salaries and reimbursements for building the new offices."
Not everyone is thrilled that a multibillion-dollar company is being offered more than a billion dollars in subsidies.
"Amazon is a billion-dollar company," Representative-elect Alexandria Ocasio-Cortez of New York tweeted. "The idea that it will receive hundreds of millions of dollars in tax breaks at a time when our subway is crumbling and our communities need MORE investment, not less, is extremely concerning to residents here."
Read more: New York City has lured Amazon with more than $1.5 billion in incentives — here's what else they agreed to