Amazon has abruptly withdrawn its plans to build a satellite headquarters in New York City, citing growing opposition of local elected officials in a shifting political climate.
The decision marks a stunning reversal just three months after Amazon crowned Long Island City, Queens, one of two winners of a highly public nationwide search in which hundreds of communities vied for the tech group’s investment.
By losing Amazon, New York will sacrifice an estimated 25,000 jobs — paying an average annual salary of $150,000 each — as well as a signature victory in a broader effort to transform the financial services capital into a technology hub to rival Silicon Valley.
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