Tech Leads the Way
When Amazon announced that it was searching for a second headquarters, 238 communities across the continent scrambled to put together expansive applications. As of this writing, 20 finalists remain in the race, with a number offering billions of dollars in subsidies to a company founded by the world’s wealthiest individual. At stake is a $5 billion facility that will employ 50,000 people, will substantially expand a region’s local tax base, and position a community for leadership in global e-commerce. Among the finalists are predictable cities like Boston and Atlanta and arguably less obvious choices such as Indianapolis and Columbus, OH.
But Amazon represents only one of a number of blockbuster real estate deals involving America’s tech giants. Google, Facebook, Apple, and other tech giants are also pursing physical expansions, and while the pace of tech-related construction is unprecedented, the sector and its specialized physical needs have produced disproportionate levels of construction investment for over a decade.