What Amazon’s HQ2 means for taxpayers in New York and Virginia

Winning the bidding war for Amazon’s AMZN, -0.35% second corporate headquarters came with a steep price tag — $3.4 billion.

That’s the total amount in tax incentives and grants that state and local officials in New York and Virginia offered the tech giant as part of their bids to house HQ2 in Long Island City, N.Y., and Arlington Country, Va., respectively.

Amazon confirmed Tuesday that it had selected those two locations from its short list of 20 cities across the U.S. and Canada, ending a bidding process that took more than a year.

“What we’ve seen play is one of the most public site-selection processes in recent years,” said Jared Walczak, a senior policy analyst with the Center for State Tax Policy at the Tax Foundation.

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