Economic Incentive Trends for Headquarter Projects

From the beginning of 2018 through the end of May 2021, approximately 791 headquarter deals were announced in the United States. The charts below demonstrate the number of deals announced and the value of the economic incentive packages awarded over the period. Note that we have excluded any projects under code names and not yet disclosed.

The total number of announced deals from 2018 through mid-2021 declined; however, the value of economic incentives awarded fluctuated. The notable increases in the second half of 2018 and 2020 were driven primarily by two highly publicized projects. In 2018, the significant increase was due to Amazon’s pursuit of a second headquarters, Amazon HQ2. The online retail giant, which received offers from communities throughout the United States, was offered $968 million in incentives by Crystal City, Virginia. The increase of economic incentives awarded in the second half of 2020 was spurred by the $439 million package North Carolina offered the Centene Corporation.

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