NJ Politics Digest: Newark Steps Up Its Offer to Amazon for HQ2

So how much does Newark want to be picked as the location of Amazon's second headquarters?

Amazon is considering Newark for its new headquarters. LEON NEAL/AFP/Getty Images

So how much does Newark want to be picked as the location of Amazon (AMZN)’s second headquarters? How about $1 billion worth?

NJBiz reports city officials have approved offering $1 billion in payroll tax exemptions to sweeten its efforts to lure the online retail giant to the city.

Newark is one of 20 finalists still being considered by Amazon for its lucrative and job-creating HQ2 project.

The city is offering to waive a one percent payroll tax entirely for Amazon employees who live in Newark and cut it 50 percent for other employees, according to NJBiz. That’s on top of $5 billion that the state has already offered to prove New Jersey is a prime location for Amazon’s business.

The Newark City Council is also considering a long-term tax abatement for companies that create at least 30,000 new jobs and create investments of at least $3 billion over a 20-year period. Amazon would bring as many as 50,000 new jobs and an investment of up to $5 billion, according to the report.

Quote of the Day: “We thought about the impact it would have on the neighborhood.” — Brick Township Mayor John Ducey, on why the town barred MTV from shooting Jersey Shore Family Vacation there.

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NJ Politics Digest: Newark Steps Up Its Offer to Amazon for HQ2