Of course, the addition of 50,000 high paying tech sector jobs to the economy would help increase incomes to compensate for an increase in rental rates.
Amazon announced the 20 short-listed cities for its second North American headquarters Thursday, and the lone non-American finalist is Toronto. Amazon expects to make a final decision sometime in 2018.
"Getting from 238 to 20 was very tough - all the proposals showed tremendous enthusiasm and creativity", Amazon spokeswoman Holly Sullivan said Thursday.
Mississauga Mayor Bonnie Crombie is delighted that Amazon has chosen the Toronto Region, including Mississauga, to move to the next phase of the process for the company's new second headquarters. Something most cities, including Austin, are not disclosing.
"One of the great residuals from the Amazon HQ2 process is we got so much great publicity", he said. He said it could be big for local colleges and universities. Halifax Mayor Mike Savage announced he meant to display a banner in his city reading "Go Toronto".
Chicago doesn't have an obvious tech reputation, but wages in computer and mathematical occupations are lower here than in most other cities on Amazon's short list. "While Austin has the experience of how to win competitions like this, this public competition is very different".
But the "real differentiator", she said, is that Louisville does not have a large enough pool of "tech talent" - in other words, skilled workers like software developers - to meet Amazon's demand.
Although Dallas was listed by Amazon as a finalist, the precise location of a potential corporate site within the North Texas region isn't known yet.
"Calgary already has Canada's youngest and best-educated workforce - it also has the highest concentration of worldwide headquarters", said Jean-Marc Prevost.
The project would bring 50,000 jobs and billions of dollars in community development to the circle city.More news: Nick Kyrgios withdraws from Open doubles to focus on singles title
Top state and city officials pledged Thursday they won't go overboard in what they offer Amazon to lure its second headquarters project to the Indianapolis area.
Penn's Northeast president and CEO John Augustine, right, displays the proposal sent to Amazon to tempt the company to build its HQ2 in Northeastern Pennsylvania during a presentation at the Wilkes-Barre/Scranton International Airport in October.
It also asked candidate cities to include in their bids a variety of detailed information about the area, including potential building sites, crime and traffic stats and nearby recreational opportunities. Austin's bid is a regional proposal that includes Travis, Bastrop, Caldwell, Hays and Williamson Counties.
For all of Austin's positive attributes, the city has its share of potential shortfalls, including few mass transit options, gridlocked highways and a limited number of global flights at Austin-Bergstrom worldwide Airport. Amazon is Seattle's largest employer, with more than 40,000 employees.
"This is an exciting time for Virginia", said Victor Hoskins, Director of Arlington Economic Development.
"Birmingham, Jefferson County and the state of Alabama will continue to recruit workforce training, site development and other programs tailored to the needs of new businesses looking at Birmingham and the region", he said.
"Quite frankly, when we looked at other bids that are public and compared them to ours, I think we stood up really well", he said. I see ExxonMobil. I see telecommunication giants like AT&T.
Tory said the strength of Toronto's bid lay in other factors.
DeVaney, too, cited the auto industry illustration, saying support companies and people would come to the area if Amazon's HQ2 comes.