Beyond tax breaks and subsidies: Virginia’s Amazon gambit

HBS alum Stephen Moret led Virginia’s winning proposal for Amazon’s 2019 HQ2 expansion. A crucial factor in the Commonwealth’s success was its billion-dollar commitment to developing talent, particularly in computer science and engineering. In beating out states that pledged vastly greater subsidies to the retail giant, Virginia validated the view that targeted investments in workforce development can spur economic development. Moret draws on his experience in Virginia and Louisiana, and his doctoral research on higher education to explain how public and private sectors can boost growth and improve worker prospects. He also sheds light on the role post-secondary studies play in determining the arc of graduates’ career opportunities.