Despite huge giveaways, Cuomo says Amazon HQ costs NY 'nada'

New York Gov. Andrew Cuomo answers a question during a gubernatorial debate with Democratic New York gubernatorial candidate Cynthia Nixon at Hofstra University in Hempstead, N.Y., Wednesday, Aug. 29, 2018. (AP Photo/Craig Ruttle, Pool)

New York Gov. Andrew Cuomo says a deal to bring Amazon's second headquarters to Queens will cost taxpayers "nothing."

Posted: Nov 19, 2018 2:36 PM

ALBANY, N.Y. (AP) - New York Gov. Andrew Cuomo says a deal to bring Amazon's second headquarters to Queens will cost taxpayers "nothing" - even though they're on the hook for $325 million in direct grants to the company.

Under the deal announced last week, the state will also give Seattle-based Amazon $1.2 billion in tax breaks over 10 years.

The Democratic governor argues that the state will come out far ahead when billions of dollars in new tax revenues from the company is factored in.

Critics of the deal say the state is giving away too much to lure one of the world's biggest companies.

Cuomo defended the deal on Monday, saying on New York City public radio that the state beat out dozens of other contenders who were offering bigger subsidies.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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