Amazon's Cloud Division Earmarks $35B Towards Virginia

Amazon.Com, Inc's AMZN cloud services unit shared plans to invest another $35 billion by 2040 to expand data centers in Virginia.
Amazon Web Services (AWS) said the new investment would create 1,000 jobs, Reuters reports.
Virginia Republican Governor Glenn Youngkin said AWS would establish multiple data center campuses across Virginia.
Also Read: Amazon, Google Analyst Reduces FY23 Revenue Growth Forecasts As Sales Channel Indicators Point Towards Challenged Cloud Outlook
In 2021, AWS said that during 2011 - 2020, it had invested $35 billion in data centers in northern Virginia and had 3,500 full-time employees at its data centers in the state.
Virginia developed a new "Mega Data Center Incentive Program," likely to entitle it to a 15-year extension of Data Center Sales and Use tax exemptions on equipment and software.
AWS also will be eligible for a state grant of up to $140 million "for site and infrastructure improvements, workforce development, and other project-related costs."
In 2018, Amazon said northern Virginia would be home to its second headquarters, known as "HQ2," and employ over 25,000 employees. As of April, Amazon said its headcount assigned to the site was 5,000.
In November 2022, AWS shared plans to add employees next year and keep building new data centers.
Sales in Amazon's cloud unit, the largest provider of rented data storage and computing power, totaled $20.5 billion during the three months that ended in September, up 27%.
Amazon had started laying off workers in November to beat the business slowdown and macro uncertainties upon pandemic recovery.
The layoffs will likely reach 18,000.
Price Action: AMZN shares closed higher by 3.81% at $97.25 on Friday.
Photo by Tony Webster via Flickr

Market News and Data brought to you by Benzinga APIs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments