Amazon In ‘Advanced Talks’ To Build New HQ Near DC

Amazon In ‘Advanced Talks’ To Build New HQ Near DC

Amazon announced previous year that the retail giant was looking to open a second headquarters somewhere in the US, bringing with it as many as 50,000 new jobs.

Shortly after the Post published its story, Mike Grella, Amazon's economic development director, addressed the "genius leaking info" about the plans in a tweet.

The Washington metropolitan area has always been considered a top contender.

The newspaper said the talks were so far advanced that one of the neighbourhood's biggest real estate developers, JBG Smith, had already pulled some of its properties off the market, and officials were considering announcing the move later this month.

Although Grella linked to a CNBC story in his tweet, the original report comes from The Washington Post, which Amazon CEO Jeff Bezos happens to own independently from the tech company. The discussions have been more detailed than those of other front runners in the area. Some of the frontrunners are allegedly between a location in Crystal City, Northern Virginia, or potentially a location close to Austin, Texas.

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After launching a reality show-like sweepstakes for a second home in late 2017, Amazon has effectively shut down disclosures about the search in the past nine months.

Washington-area leaders believe the project is theirs to lose, and that Virginia, Maryland and the District of Columbia would all benefit economically. Analysts at Stifel Nicolaus recently upgraded the company from "Sell" to "Hold" and say just the possibility that Amazon chooses Crystal City has added four or five dollars to the company's stock price.

Crystal City is a neighborhood in Arlington, Va., just across Washington, that has a concentration of high rise offices, hotels and residential buildings.

Amazon plans to make its announcement by the end of the year.

Speculation surrounding Amazon's HQ2 choice has been building, as the decision will bring with it an economic boom, including 50,000 jobs.

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