Toronto still in top 10 for Amazon HQ say experts

  3/2/2018 |   SHARE
Posted in Commercial Real Estate by John Ursini| Back to Main Blog Page

Toronto Skyline

As the only Canadian city still in the running to be the location of the Amazon headquarters known as HQ2, Toronto remains one of the 10 most likely to be successful.

That’s according to a panel of 100 real estate experts and economists surveyed by US real estate firm Zillow.

The experts considered various factors including affordability of homes for the thousands of workers who will be based at HQ2, availability of land and talent, tax codes, and the tax breaks that are expected to be offered to the ecommerce giant.

Toronto holds a respectable 8th place in the ranking, beating New York, Los Angeles and Miami.

However, the panel are backing Atlanta or Northern Virginia as the markets most likely to tempt Amazon.

“Atlanta has the benefit of being one of the most affordable markets in the country and is undergoing an urban renaissance with new public infrastructure providing attractive opportunities for employers seeking to lure young urbanites,” said Zillow Senior Economist Aaron Terrazas. “Northern Virginia has its benefits as well, as it's close to a highly educated workforce and a well-developed public transit infrastructure in the D.C. area."

Whichever city gets HQ2 there will be huge economic benefits, as there have been in Seattle, home to the firm’s existing location.

"As the experience of Seattle suggests, Amazon will not only directly bring thousands of high-paying jobs to the chosen city, but also has the potential to transform the regional economy," added Terrazas.

Toronto Commercial Real Estate, World Real Estate Markets