North Texas City Bows Out Of HQ2 Race
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Arlington, Texas, is no longer a contender for Amazon's second headquarters.
Dallas-Fort Worth is on Amazon's HQ2 shortlist, and multiple North Texas cities have bids within that banner.
Arlington had offered $921M in incentives, including a 100% tax abatement for 10 years, a waiver of building and impact fees and the creation of a municipal management district to issue tax-exempt bonds for infrastructure. It released its pitch Tuesday, something it could not do before it withdrew itself from HQ2 consideration.
“It’s unique to have a single spot that can accommodate 50,000 people, which is I think what interested them," Arlington Economic Development Manager Bruce Payne told the Dallas Business Journal. “But long story short, just as they had originally indicated, they are probably looking for a more traditional downtown environment that has a fairly well-developed transit system. That was probably our biggest shortcoming, which we knew.”
Globe Life Park remains up for grabs, and is well-positioned to attract another megadevelopment.
“With 1.7M SF of existing building space and water, sewer, storm water, power and underground communications infrastructure already in place, Globe Life Park is a prime location to accommodate a corporate headquarters the size of Amazon HQ2,” the city said in a statement Tuesday.
Arlington has been a steady office market and is burgeoning as an entertainment destination with the new stadium and the development of Texas Live! The lack of HQ2 may be a blessing for the city; critics say the massive 8M SF, 50,000-employee development could cause as much pain as benefit for growing cities.