BC Business
While e-tail giant Amazon's announcement that it would establish a second headquarters in a city to be determined (other than its existing hometown of Seattle) triggered numerous expressions of interest—including from the City of Vancouver—people in the technology and economic development business are warning prospective host cities to be careful...
While e-tail giant Amazon’s announcement that it would establish a second headquarters in a city to be determined (other than its existing hometown of Seattle) triggered numerous expressions of interest—including from the City of Vancouver—people in the technology and economic development business are warning prospective host cities to be careful what you bid for. They fear Amazon’s arrival would divert talent from post-secondary schools, stunt the growth of home-grown technology and further raise the cost of living and business costs. They also foresee a race to the bottom as cities compete to offer Amazon incentives that would diminish the upside to any business activity and tax revenue it brings.
“It’s the biggest Trojan horse of all time, yet we’re excited and rolling out the red carpet and tax dollars to help bring them here? I think it’s insanity,” Anthony Lacavera, a venture capitalist and founder of Globalive Holdings, told BNN.