Tax laws are very arbitrary. Look at all the tax breaks the auto dealers have. But the $500k "economic nexus" threshold based on last years sales in way too high. You can sell $490k to TN buyers and the state loses out on nearly $35k in sales tax and the local government around $10k. The amount is way to high.
Is the company that bought the land for $125,000,000 developing it and selling part of it to Amazon? All of it?This isn't correct information. It will be management, tech focused and software developers. The avg salary for these jobs is at $150K. They are building an office, not a warehouse. So you aren't going to see semi trucks for deliveries. This is huge for the city and best case scenario because HQ2 would have destroyed the city. Sure 5,000 jobs is a 7% increase in the downtown workforce, but with the wages Amazon pays it could really help level the gap between Cost of Living and Wages in Nashville. Many of the big companies will have to bump up their incentives to prevent any poaching.
For anyone interested this is what the development is planned to look like. Amazon would be in the taller building which is currently just at 750K sq ft, so it may get larger since Amazon announced they will need 1 million.
These types of thresholds are pushed by small businesses, not Amazon. Amazon doesn’t care about sales tax, they have the money, scale, and manpower to devote hordes of people to sales tax compliance. It’s the business with $5M in revenue and one person keeping the books that would be totally overwhelmed if they were suddenly having to file sales tax returns in 8 states every month, track exemption certificates, stay on top of rates and rules, etc. And in a lot of cases that’s what’s going to happen now. Small and mid size businesses selling across the country are going to find themselves filing returns in 20+ states and being expected to keep up with exempt certs and all the new rules in states they don’t live in.
If they want to do business in a state they need to follow the law. It is not that difficult. Keeping up sales and taxes these days is is pretty simple. software exist that will keep up with sales and exempt sales and file tax returns. It is also updated often as tax laws and rates change. A truly "small" company is not going to sell 100k to several states.
Yes Southwest Value Partners group is still developing the site as Amazon is only going to be in a portion of the development. Not sure if Amazon will be owning it. They have been reported as saying they are investing $250M towards the deal. The rest of the "Nashville Yards" is going to be a hotel, some residential, 4000 seat theater, and then some misc businesses . The 24 story Grand Hyatt hotel has already started construction.
This isn't correct information. It will be management, tech focused and software developers. The avg salary for these jobs is at $150K. They are building an office, not a warehouse. So you aren't going to see semi trucks for deliveries. This is huge for the city and best case scenario because HQ2 would have destroyed the city. Sure 5,000 jobs is a 7% increase in the downtown workforce, but with the wages Amazon pays it could really help level the gap between Cost of Living and Wages in Nashville. Many of the big companies will have to bump up their incentives to prevent any poaching.
For anyone interested this is what the development is planned to look like. Amazon would be in the taller building which is currently just at 750K sq ft, so it may get larger since Amazon announced they will need 1 million.
I think it has lots to do with the city still having tons of land available for development. Sure there has been lots of infill the past 5 years or so, but you can still find underutilized lots with just a 1 story structure or just used for parking. Until more is filled then there isn't going to be motivation to go higher.
I think the plan is to build a new YMCA next to the new tower. I think they will tear down the existing YMCA in phases.
Okay. The Westview has been condos for about 20 years. The next two buildings were both home to Walter Nipper Sporting Goods, one from the time the store opened until the early 2000s when his estate was settled and the second where the sign is (or was most recently) is where they moved the store to in the early 2000s. No clue who owns those buildings. Probably a REIT that doesn't vest for another 300 and something years.
