* The Sun-Times breaks down the state and local incentives package for Amazon’s second headquarters…
Roughly $1.4 billion in state EDGE tax credits. The newly-revised program provides a 50 percent tax break for every job they create in Illinois.
$60 million in property tax breaks through the city and county programs known as Class 7B and 7C.
$450 million in site-specific infrastructure improvements that would come from the Illinois Department of Transportation, the Chicago Department of Transportation, the CTA and other agencies.
$250 million worth of investments in education, workforce development and “Neighborhood Opportunity Funds” to make certain that all Chicagoans can qualify for the 50,000 high-end Amazon jobs and that businesses that spring up or move here to support Amazon locate in Chicago neighborhoods.
Free land worth $100 million, if Amazon chooses to build its second headquarters at the old Michael Reese Hospital site purchased by former Mayor Richard M. Daley as the site for an Olympics Chicago didn’t get. If Amazon chooses either to re-purpose or demolish and rebuild the Thompson Center that the state has been trying desperately to sell, the free land would be worth even more money.
Barring the possible free land incentive, that works out to about $45,000 for each of the promised 50,000 jobs.