• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

N.Y. Mayor Says Amazon HQ2 Will Prevail as City Needs Tech

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
February 5, 2019, 1:54 PM ET
Add Fortune on Google for similar content.

New York Mayor Bill de Blasio said he thinks Amazon will prevail in building its huge new campus in the city — despite an opponent being recommended to serve on a board with veto power over the transaction.

De Blasio said he didn’t think any elected official wanted to be the one who cost the city as many as 40,000 well-paid jobs. New York needs the tech industry, de Blasio said, because it can no longer rely upon Wall Street as an economic growth generator.

“I don’t think anyone would want to take the blame for losing the biggest jobs deal in the history of New York City and that’s why I think it will go through,” de Blasio said in response to a question at an unrelated press conference Tuesday in Brooklyn.

New York State Senate Majority Leader Andrea Stewart-Cousins on Monday chose a leading opponent of the $2.5 billion deal as one of three members of a board with veto power over the transaction. Senator Michael Gianaris, a Democrat who represents Long Island City, Queens, where Amazon intends to build a new office, has criticized the $3 billion in government incentives as a giveaway to corporate interests. The state Public Authorities Control Board must unanimously approve projects financed through debt-raising state agencies. Governor Andrew Cuomo must approve all picks for the board.

Gianaris said he couldn’t imagine any changes to the Amazon agreement that would sway his view and win his support. Cuomo initially said the board lacked jurisdiction over the transaction, but recently changed his mind and said he believed that the board would have to approve it.

“The deal as presented is so historically bad it can’t form the basis of a reasonable negotiation, and the typical horse-trading that occurs to obtain community approval is not going to work here,” Gianaris said in an interview.

Amazon expected it would face the biggest public backlash to a new headquarters in New York City, according to a person familiar with its decision-making process. Amazon chose the location anyway, since the city offered a large skilled-labor pool, and ample opportunities for spouses and partners of recruited hires to find employment to further their own careers, the person said. It’s building a similar project in Arlington, Virginia.

At a city council meeting last week, Amazon’s public policy director Brian Huseman said the project would generate $186 billion in economic activity over the next 25 years, including $14 billion in additional tax payments and 25,000 jobs.

“We believe this project will be a positive economic impact for the city and the state,” he said. “We’re here to create jobs.” He also said that Amazon wants to invest in a “community that wants us” and where “our employees and our company are welcome.”

Almost immediately after Seattle-based Amazon announced last year that it chose New York, there has been a backlash from lawmakers and community organizers in the Empire State. They fear the influx could push out existing residents and add to congestion on the already overcrowded subway.

Dani Lever, director of communications for Cuomo, criticized Gianaris’s appointment, saying it would put the state in further economic peril just hours after the governor reported income tax collections came in $2.3 billion below expectations for December and January, and that the state may be entering an economic slowdown.

Gianaris’s recommendation “puts the self-interest of a flip-flopping opponent of the Amazon project above the state’s economic growth and is a clear sign that the Senate Democrats oppose the 25,000 to 40,000 new technology jobs that would diversify our state’s economy,” Lever said.

New York Beats Out San Francisco to Be World’s Best Tech City

Asked whether he would reject Gianaris’s appointment to the board, Cuomo sidestepped the question Tuesday, saying “we’re not there yet,” during an interview on WNYC radio. The governor said he didn’t know whether the board would have jurisdiction over the deal, saying the issue depends on the exact design of the transaction. “What I do reject is the triumph of politics over government.”

Cuomo said Amazon hasn’t done a great job of communicating its intent.

“Everybody loves to hate Jeff Bezos,” Amazon’s chief executive officer, the governor said. “I think if Amazon pulled out you would see all these political voices, who are arguing symbolism, all of a sudden understand what they did. And it would be a dramatic blow to, not just the economy, but also the reputation” of New York.

The board has killed large-scale projects in the past, such as a combined stadium and convention center proposed in 2005 by former Mayor Michael Bloomberg for Manhattan’s west side, when then-Assembly Speaker Sheldon Silver, a Manhattan Democrat, vetoed the plan. The former mayor is the founder and majority owner of Bloomberg News parent Bloomberg LP.

About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

Peloton Tread Review (2026): Our Experience
HealthDietary Supplements
Peloton Tread Review (2026): Our Experience
By Christina SnyderJuly 24, 2026
35 minutes ago
The Best Spermidine Supplements (2026): Expert Tested
HealthDietary Supplements
The Best Spermidine Supplements (2026): Expert Tested
By Emily PharesJuly 24, 2026
39 minutes ago
This CEO once bought a bankrupt furniture company for $80,000. At 95, he’s now given away millions
Successphilanthropy
This CEO once bought a bankrupt furniture company for $80,000. At 95, he’s now given away millions
By Sydney LakeJuly 24, 2026
44 minutes ago
WPP’s sweeping restructure could save £500 million—the bigger challenge might be winning over workers 
C-SuiteWPP
WPP’s sweeping restructure could save £500 million—the bigger challenge might be winning over workers 
By Sam BirchallJuly 24, 2026
57 minutes ago
EU says TikTok failed to shield minors’ accounts from adults, exposing kids to predators
CybersecurityTikTok
EU says TikTok failed to shield minors’ accounts from adults, exposing kids to predators
By Sam McNeil and The Associated PressJuly 24, 2026
1 hour ago
Brazil uses ‘gold fingerprinting’ to fight illegal mining in the Amazon
EnvironmentScience
Brazil uses ‘gold fingerprinting’ to fight illegal mining in the Amazon
By Gabriela Sa Pessoa and The Associated PressJuly 24, 2026
1 hour ago

Most Popular

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
1 day ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
2 days ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
1 day ago
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
Personal Finance
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
By Joshua HongJuly 23, 2026
1 day ago
Current price of oil as of July 23, 2026
Personal Finance
Current price of oil as of July 23, 2026
By Joseph HostetlerJuly 23, 2026
1 day ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.