Amazon shares are higher Tuesday, as reports suggest the tech behemoth is poised to split its second US head-quarters between two cities, rather than just one hub. Advanced talks are being held with a number of cities and reports state that sources are currently under the impression that Amazon HQ2 is set to be spread evenly between two locations.
By 1615 BST, Amazon shares were 1.33% higher at $1,649.37. The stock has been trending broadly downwards in recent weeks.
It’s been more than one year since Amazon began accepting proposals from US cities, hoping to be selected as the location for Amazon’s second US head-quarters. After receiving 238, Amazon slashed its list of hopefuls to just 20.
The global tech etail behemoth has been in talks with the different locations since and reports now suggest it is moving closer to announcing not one, but two locations to become home to HQ2.
Various reports have suggested Amazon is in late stage, advanced talks with a number of places, including Crystal City, Arlington and Long Island City in New York City.
If at least part of the original plan goes ahead, that could mean the planned $5 billion investment will be split between two US cities, with 25,000 new jobs in each city, too.
No decision yet
While no decision has been made or announced by Amazon yet, its likely that Seattle where its current single US head-quarters is located, will breathe a sigh of relief once the successful city or cities, are named.
The existing Seattle head-quarters has expanded exponentially and although it provides work and investment for the region, it has also caused massive congestion for those living in the area.
Indeed, while the financial investment and jobs growth Amazon would bring to any new regional HQ would be welcome by the local councils, some residents have been against Amazon coming to their area due to fears it could create the same problems, for them.