Report: Amazon HQ2 could generate $346M per year in state tax

Report: Amazon HQ2 could generate $346M per year in state tax
Amazon announced its second headquarters will be built in Long Island City, Queens, and Crystal City, Virginia.

(WWBT) - A $346 million per year tax boost could come to the commonwealth from Amazon’s new HQ 2 facility, according to an economic impact analysis by the Virginia Chamber.

The report estimates a $14.2 billion economic boost in 2030 alone along with the creation of 59,308 jobs. Amazon itself is expected to create 25,000 jobs.

State tax revenue could reach as much as $346.7 million per year, according to the report.

The report was released at the conclusion of the ninth annual Virginia Economic Summit.

Copyright 2018 WWBT. All rights reserved.