Amazon announced findings from its 2021 U.S. Economic Impact Report on Aug. 11, sharing that the company invested more than $23 billion in New Jersey and $530 billion in the U.S. since 2010. Moreover, the e-commerce giant said it’s created more than 49,000 jobs in New Jersey across its operations, logistics, and corporate and technology functions.
The report also estimated that Amazon’s investments in the state led to the contribution of more than $23 billion to the New Jersey economy over the last decade, demonstrating Amazon’s commitment to creating quality jobs and generating economic opportunity.
“The promise of delivering for our customers, the creation of good jobs, and the generation of economic opportunity has been always at the forefront of our investing strategy,” said Holly Sullivan, vice president of economic development at Amazon, in a prepared statement. “We are proud to be the number one investor and fastest job creator in America and we know that our size and scale bring broader responsibility – our investments can not only help revitalize cities and neighborhoods but also provide a career opportunity for those in need. ”
“Amazon’s continuing and impactful investments in New Jersey cannot be understated,” said New Jersey Business & Industry Association President and Chief Executive Officer Michele Siekerka. “Through its innovative practices, Amazon has fully leveraged our favorable location, logistics and infrastructure to build a talented, educated and diverse workforce. This has a direct and positive impact on our state’s economy and the lives of the workers they employ. This, in turn, has an exponential effect on our communities throughout the state. We are grateful for Amazon’s continued commitment to New Jersey.”
In addition to investing in its physical operations and fulfillment network, cloud infrastructure and retail locations, Amazon also invested significantly in its employees–paying more than $160 billion in compensation to its U.S. workforce. Amazon has been leading the fight for a $15 minimum wage and offers all hourly employees a starting wage of at least $15 per hour. Employees also have access to industry-leading benefits, including health care,401(k) retirement savings and career skills training programs.
The report, produced by economists at Keystone Strategy, provided an analysis of Amazon’s 2020 U.S. investments in areas including infrastructure and compensation. On top of the company’s investments and direct employment, Amazon’s investments have supported the creation of more than 64,000 indirect jobs across the state in supported industries including construction, transportation, retail, healthcare, food services and more.