How much did the County Board promise Amazon? Between $10 billion and $20 billion, depending on how well Amazon and the local economy perform over the next 20 years. Basic deal is that Amazon redevelops Crystal City for its new headquarters and in return Amazon is exempt from real estate and business taxes Amazon would have to pay in Arlington. Amazon would also be exempt from some State taxes. The County would also provide Amazon the same incentives it's been giving to REITs like JBG/Smith and Forest City, most recently at the County's 'Christmas in July' meeting earlier this month.
Think of a family owning a McMansion assessed at $1.5 million today to be assessed at $4.5 million in 2038 not having to pay Arlington real estate taxes or State income tax over the next 20 years. Only Amazon wouldn't have to pay businesses taxes either and would get various kinds of essential infrastructure constructed at the County's expense.
Whether that's good for Arlington's residents, taxpayers, and voters with a County Government addicted to growth-for-the-sake-of-growth and which is always scrounging for a million here and a million there won't be known until years after the County and Amazon sign the deal.
Bears repeating that most of Arlington's decision makers don't live in Arlington, or if they do, live in exclusive enclaves and disappear a few years after they make deals for extravagant projects. Like Jay Fisette and his aquatics center.
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