The Arlington County Board unanimously approved a $23 million incentives package for Amazon.
The 5-0 vote sealed the deal for a performance agreement. As Amazon brings 25,000 jobs and fills up office buildings in Crystal City, they’ll receive an incentive grant equal to 15 percent of the growth in hotel tax over the next 15 years. Board members said the most common misconception is that Amazon is getting $23 million that could have gone to things like affordable housing and schools.
“The truth is that’s just a sliver of that growth. If Amazon gets 15 percent and that’s $23 million. The 85 percent that we get…that the community gets is $130 million and we wouldn’t get that $130 million if it weren’t for Amazon coming so it’s not taking from an existing pot of money that could go to something else,” Erik Gutshall, member of the County Board said.
In return, he said the county gets a 14-to-1 return on their investment.