Amazon Reportedly Considering Dividing HQ2 Between 2 Cities

Amazon.com, Inc. AMZN has conducted a search for the company's second headquarter location for a year. Detroit was in contention until January, until the e-commerce titan decided the city lacked the needed talent. 

After months of scrutiny, Amazon has reportedly reached a verdict.

What Happened

Amazon is finalizing plans to house roughly 50,000 employees in two separate locations, according to The New York Times: Long Island City, New York and Arlington, Virgina.

Why It’s Important

The choice of two locations would leverage tax incentives and allow for a wider range of talent, according to NYT. 

In a relatively short period of time, Amazon has become a household name for Americans in a variety of ways.

Aside from its e-commerce platform, the company has become a major competitor in subscription boxes, technology such as smart speakers and streaming music and video. 

Amazon recently raised its minimum starting wage to $15 an hour. 

What’s Next

Steve Kovach, a Long Island City resident who works as a tech editor at CNBC, tweeted his thoughts after the NYT report was published: 

Amazon shares were up 1.18 percent at $1,647 at the time of publication Tuesday. The stock has surged over 367 percent in the last five years. 

Related Links:

Reports Say Amazon Narrows List Of Cities For HQ2, Virginia Could Be Top Choice

Amazon Shares Could Hit $3K By 2020, Jefferies Says After Sum-Of-The-Parts Valuation

Photo courtesy of Amazon.