Each year, local governments spend nearly $100 billion to move headquarters and factories between states. It’s a wasteful exercise that requires a national solution.
The Amazon HQ2 saga had all the hallmarks of the gaudiest reality TV. It was an absurd spectacle, concluding with a plot twist, which revealed a deep and dark truth about the modern world.
Fourteen months ago, Amazon announced a national beauty contest, in which North American cities could apply to win the honor of landing the retailer’s second headquarters. The prize: 50,000 employees and the glory of housing an international tech giant. The cost? Just several billion dollars in tax incentives and a potential face-lift to the host city. Then last week, in a classic late-episode shock, several news outlets reported that Amazon would split its second headquarters between Crystal City, Virginia, a suburb of Washington, D.C., and Long Island City, in Queens, New York.