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Amazon Selects 20 Finalists in Its HQ2 Location Search

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Dec. 4 2020, Updated 10:42 a.m. ET

Amazon selects 20 finalists in its HQ2 location search

Amazon’s (AMZN) search for a location to build its second corporate headquarters, referred to as HQ2, is progressing. The company is due to release its 4Q17 results after it released a shortlist of candidates that could host HQ2.

Amazon is looking to locate its HQ2 in North America. About 238 cities and regions in the US (SPY), Canada, and Mexico applied to host Amazon’s HQ2. Amazon rejected most of the applications, with only 20 metro areas making the shortlist. Mexico is not represented.

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Toronto is the only finalist outside the US

The shortlist is primarily composed of US metro areas, with Toronto, Canada, as the only metro area outside the US that made it to the shortlist. Some of the finalists in the Amazon HQ2 location search are Boston, Los Angeles, Miami, and Nashville.

Amazon is looking to invest $5.0 billion in the location where it will build HQ2. The company is looking to directly create as many as 50,000 high-paying jobs through this initiative. Amazon added that tens of thousands more jobs could be created by HQ2.

The investment and the job promises are among the reasons behind the strong interest North American metro areas have shown in hosting Amazon’s HQ2.

Amazon employs more than 540,000 workers

Amazon (AMZN) closed 3Q17 with 541,900 employees around the world. Its China-based (MCH) e-commerce rivals Alibaba (BABA) and JD.com (JD) finished 3Q17 with 59,572 and 137,975 employees, respectively.

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