Amazon’s exit could scare off tech companies from New York

NEW YORK (AP) — Amazon’s decision to walk away from New York City could scare off other tech companies considering moving to or expanding in the city.

That’s according to experts analyzing the e-commerce giant’s sudden cancellation of plans to build a massive headquarters in Queens. The decision on Thursday wipes out 25,000 promised jobs in a city that wants to be seen as the Silicon Valley of the East Coast.

Amazon abandoned the plan amid pushback from politicians who were angry about nearly $3 billion in tax breaks and the company’s anti-union stance.

Julie Samuels is executive director of industry group Tech: NYC. She says the city is “playing with fire” with regard to the message it sends to companies that want to come to New York and expand to New York.