Amazon Hits the Ground Running in Arlington

Arlington project to cost $2.5 billion

Amazon’s (AMZN) Arlington County headquarters are set to start operations next month, several months ahead of the company’s targeted October start. The first Arlington team will initially operate from temporary office space as the company works toward opening its first building this fall. Amazon aims to create 400 jobs at the Arlington facility by the end of 2019.

Amazon is investing $2.5 billion in the development of the Arlington headquarters, through which it hopes to create more than 25,000 jobs across North Virginia in the next decade. The company has secured hundreds of millions of dollars in tax incentives from state and local authorities for its Arlington project. A lot of those incentives are conditional on the company achieving employment targets.

Amazon Hits the Ground Running in Arlington

Sign up for Bagels & Stox, our witty take on the top market and investment news, straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Amazon’s workforce to expand significantly

Amazon exited the first quarter with 630,600 employees worldwide. Meanwhile, (JD) and Google parent Alphabet (GOOGL) closed the first quarter with 179,000 and 103,459 employees, respectively. Alibaba (BABA) exited 2018 with a workforce for 101,550, and Walmart (WMT) employs millions around the world.

Amazon’s headcount is set to significantly expand once it fills its Arlington headquarters. Amazon had planned to set up another corporate headquarters in New York but scrapped the plan amid opposition in the state. The New York headquarters would have hosted at least 25,000 Amazon employees.