Amazon Pulls Out of Plans to Build New Headquarters in New York City

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Breaking up is hard to do. On Valentine’s Day, Amazon and New York City “consciously uncoupled” when Amazon announced that it would not build a new headquarters – known as HQ2 – in New York City after all. In a statement, Amazon (NASDAQ: AMZN) said it was backing out of the agreement because of the lack of support and pressure it felt from state and local politicians. Without political support and collaboration among key stakeholders, building a new facility would have been challenging at best.

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