Amazon halts work on parts of second headquarters in Virginia
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Amazon (NASDAQ:AMZN) has reportedly halted construction of its second headquarters as it assesses current needs amid the shifting macroeconomic climate and remote work backdrop.
The e-commerce giant said the site in Arlington, Virginia will still be occupied as planned and employees will be moved to two new office towers in June. However, work on a large development across the street will not see shovels in the dirt this quarter as originally planned.
"Weâre always evaluating space plans to make sure they fit our business needs and to create a great experience for employees... And since Met Park will have space to accommodate more than 14,000 employees, weâve decided to shift the groundbreaking of PenPlace out a bit " read part of the Amazon statement on the development.
The Amazon HQ2 story has been taking twists and turns ever since the Seattle-based company started off a bidding war between major cities in 2017. More than 200 cities in Canada, Mexico, and the United States rushed in to offer tax breaks, expedited construction approvals, infrastructure promises, and other incentives. Amazon (AMZN) narrowed its list if HQ2 candidates to 20 in January of 2018. An announcement that the headquarters would be split between Arlington and Long Island City in New York came in November of 2018. In February of 2019, Amazon announced that it would cancel the planned Long Island City location due to political opposition.
Shares of Amazon (AMZN) gained 2.63% in early trading on Friday morning.
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