Amazon Picks Maryland

What It Will Mean for Property Values if Amazon Picks Maryland for 2nd HQ

Late last year Amazon announced it would be opening a second headquarters for their company. The company, which has topped the lists of best companies to work for, is the leader in online sales. If you need something, no matter what it may be, you can almost certainly find it on Amazon

The benefits of working for the company at any level are astounding. They offer paid vacation, maternity leave, health insurance, retirement funds, shares in the company, a high starting pay rate, extensive training, and many opportunities to move forward. It will excite Maryland residents know that a location in Montgomery County has made it into the top twenty potential location sites for this huge second headquarters.

With the potential to drastically increase local economy, Maryland officials have made it clear they will do whatever necessary to ensure Amazon picks this location. The headquarters will not only open up as many (or more than) 50,000 jobs with starting pay rates over $100,000 yearly but would potentially send property values skyrocketing – a fantastic sign for anyone seeking to sell their homes in the next one to two decades.

But how will an Amazon headquarters raise property values? There are two key factors which will combine to push market values through the roof.

First

This would open many local jobs, which would allow for a greater demand in terms of housing. Home owners who were previously struggling due to under employment or unemployment will potentially land jobs which will send their household incomes upwards considerably. This means there is more personal income which can be allotted to household repairs, lawn maintenance, and community assets which have a direct effect on property values.

Second

Maryland officials have offered a massive incentive package worth over $5 billion to entice Amazon into choosing Maryland. Knowing what that many jobs could do for the local economy, it is no wonder officials are willing to offer so much. These improvements would help to significantly increase property values.

So, what does this package include?

The primary improvements that would be undergone via this package are to the highways and transportation system. Among other key developments, heavily congested roadways would be opened to include an extra lane going either way. Toll locations known for the ridiculous backup and waiting times would be expanded by as many as four booths in either location. The combination of these projects is hoped to significantly decrease congestion to make commutes less of a hassle.

The transportation system would also be improved to make life easier for individuals who have decide to forgo purchasing a vehicle of their own. Although not a lot of details were given as to what would be done for the transportation system, officials have stated that more routes would be created to encompass the higher demand. Opening new routes, by the way, would also create a (much smaller) opening in the job market as drivers would be needed to fill these positions.

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