Oklahoma City trust approves incentives for Amazon center
OKLAHOMA CITY (AP) — An Oklahoma City trust has approved $1.7 million worth of incentives for Amazon in exchange for job creation and capital investment at the company’s new order-fulfillment center.
The Journal Record reports that the Oklahoma City Economic Development Trust approved the incentives Tuesday.
The money would come from general obligation limited tax bond debt if approved by City Council. The city wouldn’t release the incentive unless Amazon creates 53 jobs over five years.
The retail giant promises to hire more than 1,700 people at its new center, with a total payroll of $11.5 million the first year. The company is expected to create sales tax and property tax revenue worth $2.6 million for the first two years.
Public comments on the decision included complaints of non-transparency. Chairman Larry McAtee says Amazon required the trust keep negotiations quiet.
Information from: The Journal Record, http://www.journalrecord.com