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Trulieve Cannabis Corp Looks Ready to Deliver Big Gains to Investors
Trulieve Cannabis Corp. (TCNNF) is a company that has been on the stock market for over two years, and it's finally ready to deliver big gains to investors.
Trulieve Cannabis Corp is a company that has been on the market for less than a year. However, it has already made large gains to investors. Read more in detail here: who owns trulieve.
What Does Trulieve Stock's Future Hold?
Prior to 2021, Trulieve Cannabis Corp (CNSX:TRUL, OTCMKTS:TCNNF) was not a marijuana company on my radar. But, thanks to the company's business development and rising revenue, TCNNF stock has really converted me into a believer this year.
But, as usual, the fundamental issue is: Is Trulieve stock a solid long-term buy-and-hold marijuana stock? Is it also capable of competing with some of the industry's other big hitters?
The answer, in my opinion, is a resounding yes.
TCNNF stock has slipped under a lot of people's radars, which is exactly what you want when investing.
Trulieve reported sales of $215.1 million in its most recent quarterly report, up 11% from the prior quarter. (Source: Trulieve Cannabis Corp, "Trulieve Reports Record Second Quarter 2021 Earnings and Expansion into New Markets," August 12, 2021.)
Harvest Health & Recreation Inc. was also recently acquired by the business (CNSX: HARV, OTCMKTS:HRVSF). This is one of the largest marijuana purchases ever disclosed in the United States.
Trulieve Cannabis Corp's income will almost certainly increase as a result of the purchase, and more cash will be available to assist the business continue its nationwide growth.
This follows Trulieve's recent purchase of a recreational marijuana store in Worcester, MA from Nature's Remedy of Massachusetts, Inc. (Source: Cannabis Investing News, June 30, 2021, "Trulieve Completes Acquisition of Marijuana Retail License for Dispensary Location in Worcester, Massachusetts.")
Trulieve's footprint in Central Florida has also grown. (Source: Trulieve Cannabis Corp, "Trulieve Expands Access to Medical Cannabis in Central Florida With New Winter Park Location," June 23, 2021.)
The business announced the launch of its 99th and 100th dispensaries in the United States, both in Florida, in late August. (Source: Trulieve Cannabis Corp, "Trulieve Announces Opening of 100th Dispensary in United States," August 25, 2021.)
Trulieve's commitment to growing its U.S. and international presence is precisely what I look for in a top marijuana company.
Curaleaf Holdings Inc (CNSX:CURA, OTCMKTS:CURLF), a long-time favorite of mine, takes a similar strategy, which has paid off handsomely for CURLF stock.
Curaleaf Holdings Inc and Trulieve Cannabis Corp have another thing in common: they're both on track to surpass $1.0 billion in sales in 2021.
Even without COVID-19 causing havoc on supply chains, that's a remarkable achievement. All of this amid a worldwide epidemic is really remarkable.
StockCharts.com provided the chart.
All of this positive news arrives at an ideal moment for investors: Trulieve Cannabis Corp is on the rise.
Whereas Trulieve stock has only experienced increases previously, a few months of negative movement (see chart above) indicates that there was a period of unbridled excitement, which has happened before in the marijuana sector.
However, as in the past, such negative movements often precede even greater increases as investors recover trust in the company or, better still, see the new lower price as a bargain.
Dear Sir or Madam, That, I think, is what's going on with Trulieve Cannabis Corp right now.
TCNNF stock is now trading in a highly appealing price range after giving up some of its gains after over 200 percent rise in March. Trulieve stock is still up around 50%, and it just went back up by approximately 20% in September.
To put it another way, TCNNF stock is gaining momentum once again. And I have every reason to think that the stock of Trulieve will reclaim its all-time highs in the near future.
That's because the market is eager for marijuana stocks from businesses with aggressive acquisition plans in the United States, particularly as more states legalize the drug.
If Trulieve Cannabis Corp is on track, I don't see why it can't one day challenge the other top marijuana companies in the United States for supremacy.
TCNNF stock has the ambition, solid fundamentals, capital, and wisdom to become a winner in the US marijuana industry, based on what I've observed thus far.
And the more Trulieve Cannabis Corp expands, the more likely it is to expand even more if federal marijuana legalization occurs in the United States.
I've written a lot on the probability (or unlikelihood) of federal marijuana legalization in the United States in the near future, but the truth is that it will happen eventually; it's just a matter of time.
And one advantage of Trulieve stock is that it may continue to rise in the interim as more states legalize marijuana.
Furthermore, as customers transition away from the illegal market and toward the legal marijuana industry, growth will spill over from marketplaces throughout the United States, benefiting companies like Trulieve Cannabis Corp, which has a significant presence in the United States.
With the U.S. marijuana market's bright future, it's only natural that one of the industry's major players would have a bright future as well.
I see no reason why TCNNF stock shouldn't be regarded one of the best marijuana companies, given its strong financials, ambitious acquisitions, and smart growth plan throughout the United States.
Trulieve Cannabis Corp. (OTC: TCNNF) is a company that has been on the market for about two years and is currently trading at $3.33 per share. The company's stock forecast shows that the company will be able to deliver big gains to investors in 2018. Reference: trulieve stock forecast.
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The number of housing of Saint-Maur-des-Fossés was estimated at 36 478 in 2007. These accommodation of Saint-Maur-des-Fossés consist of 33 872 main homes, 460 secondary residences and 2 145 vacant accommodation.
Area of Saint-Maur-des-Fossés is 11,25 km² for a population density of 6 733,16 habs/km² and for a housing density of 3 242,49 housing/km².
Here are below a set of graphic, curves and statistics of the housing of the city of Saint-Maur-des-Fossés.
Must see: the population data of Saint-Maur-des-Fossés, the road map of Saint-Maur-des-Fossés, the photos of Saint-Maur-des-Fossés, the map of Saint-Maur-des-Fossés.
The number of housing of Saint-Maur-des-Fossés was 36 478 in 2007, 35 641 in 1999, 34 414 in 1990, 34 885 in 1982, 34 141 in 1975 and 29 852 in 1968.
In 2007 the accommodations of Saint-Maur-des-Fossés consisted of 33 872 main homes, 460 second homes and 2 145 vacant accommodations.
The following graphs show the history of the number and the type of housing of Saint-Maur-des-Fossés from 1968 to 2007. The second graph is drawn in cubic interpolation. This allows to obtain more exactly the number of accommodation of the city of Saint-Maur-des-Fossés years where no inventory was made.
The population of Saint-Maur-des-Fossés was 75 748 inhabitants in 2007, 73 071 inhabitants in 1999, 77 206 inhabitants in 1990, 80 811 inhabitants in 1982, 80 920 inhabitants in 1975 and 77 251 inhabitants in 1968. Meanwhile, the number of housing of Saint-Maur-des-Fossés was 36 478 in 2007, 35 641 in 1999, 34 414 in 1990, 34 885 in 1982, 34 141 in 1975 and 29 852 in 1968.
The number of inhabitants of Saint-Maur-des-Fossés per housing was 2,08 in 2007.
The accommodation of Saint-Maur-des-Fossés in 2007 consisted of 13 263 houses and 22 949 flats.
Here are below the graphs presenting the statistics of housing of Saint-Maur-des-Fossés.
In 2007, 21 467 main homes of Saint-Maur-des-Fossés were occupied by owners. Meanwhile, 33 872 households lived in the city of Saint-Maur-des-Fossés. The following graphs present the statistics of these households of Saint-Maur-des-Fossés.


This sweet, adorable face belongs to Chivers, a ruby red Cavvy who is 8 years old.
This little guy is seeking a kind and understanding owner to make him feel safe and secure and loved for the rest of his days. Many Tears Animal Rescue are assisting him in finding this special person(s).
Chivers is quite the nervous little chap around new people and loud noises. He is getting braver, but he really would prefer a quiet home without children.
Chivers is brilliant with other dogs. Big or large, male or female, he wants to be friends with them all! He is also surprisingly tolerant of cats.
Chivers loves nothing more than being in the garden, galloping about to see what the other dogs are up to, his tail wagging like crazy the entire time. He is also getting better at going on short walks. He has a Grade 4 heart murmur but so far this hasn't caused him any worry. He has, however, just started taking 1.5 Vetmedin twice a day along with a water tablet.
Chivers needs a companion who can be home with him most of the time in order to built up trust and to bond with them.
Can you give this cutie the love and security he is looking for, as well as another doggy or two to play with?
Please mention that you saw Chivers on the Oldies Club website.


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Amy Brier
I come from an artistic family, and received a BFA in Sculpture from Boston University. From 1987 to 1993 I was a stone carver at the Cathedral of St. John the Divine in New York City. There I was immersed in Gothic architectural ornament. During this time I worked 6 months in Lyon, France on the restoration of the 13th century nave of St. Jean Cathedrale. These experiences were my formation as a carver. I then came to the heart of limestone country in Indiana and received a Masters of Fine Art from Indiana University.
Amy Briar- Artists/Artwork Statement
Stone is synonymous with memory. It is a physical record of the earth's history. Indiana limestone is also part of the fabric of our national identity and cultural memory. It is the building material for numerous state and national monuments and landmarks. Ideas about how we remember personal and cultural memories are behind much of my work. I reference classical forms and techniques, but I bring these into contemporary dialogue. For example, in the Roliquery sculptures the viewer uses the stone to create the fleeting image in the sand, fragile and endlessly renewable. This addresses ideas of interaction, and a reframing of materials as the stone becomes the tool that creates the final fugitive image in the sand.
Artwork Label:
LABYRINTH LABYRINTH is the form of an ancient cylinder seal, the labyrinth incorporates my name in English and Arabic.
Portfolio of Amy Brier
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Wilder vs Ortiz II Boxing Prediction & Odds
One of the most anticipated rematches in boxing is about to take place on November 23rd. Deontay Wilder and Luis Ortiz are meeting for a sequel, with Ortiz looking to claim the WBC World Heavyweight Championship Division.
Fox Sports are hosting this pay-per-view event at MGM Grand in Las Vegas.
The last time Luis Ortiz and Deontay Wilder fought one another was in March 2018. The two fought one another equally, trading blow after blow at the Brooklyn Barclay Centre.
It's considered to be one of the most-watched fights of the last decade, with the screams and cheers of fans heard across the Brooklyn Borough. Things have changed over the previous 20 months, with Wilder now having Forty Knockouts and Ortiz holding 26. However, Ortiz is far larger than Deontay in muscle mass, which is anticipated to assist Ortiz for the World Championship.
Best Online Sportsbooks To Bet On The Wilder vs Ortiz Rematch
C$2500
Selecting which online sportsbook is best for betting on the upcoming battle can be challenging. Oddsmakers have been favouring Deontay Wilder for the win, with sports analysts estimating that Luis Ortiz will win their second battle. Below we have provided multiple sportsbooks favouring both fighters. The odds listed in this article don't reflect all sportsbooks advertised.
Motivedia – Boxing
Pound for Pound Analysis
* Odds have been provided by 888sport and are accurate as of 19/11/2019
Odds to win: +105 (Rounds One to Six)
Deontay Wilder was the victor for the March 2018 Brooklyn fight. He almost lost the battle when Luis Ortiz sent a barrage of blows on the Seventh Round. Wilder came back and knocked down the formidable heavyweight twice in the tenth round. However, Deontay Wilder claims that he would've knocked out Ortiz if it wasn't for a sickness he was battling before the matchup.
Subsequently, Wilder anticipates a faster and more impressive battle at the MGM Las Vegas Casino & Resort. It's expected that both Ortiz and Wilder will adjust their fighting styles for the upcoming contest, which will increase the chances of a knockout before round six.
Deontay Wilder, in his barrage of public statements, has mentioned that he will defeat Luis Ortiz, that he isn't a concern and should be afraid of what's to come on the 23rd. Wilder sarcastically mentioned that he could do what other fighters couldn't to Ortiz while he had the flu and that the Cuban Prized fighter is a joke.
Odds to win: +1000 (Rounds One to Six)
Training camp has officially ended for Luis Ortiz, with the prized fighter thrilled with the physical and mental results. Known for his southpaw swing, this middle-aged Cuban fighter is in his best physical shape since professionally boxing. He enters the upcoming match stronger than ever before, ready to compete against Wilder, who hasn't ever once been knocked out.
It should be noted that Ortiz is the only fighter who has come close to taking the championship from Wilder. Sports analysts anticipate that the change in weight is to assist Ortiz with landing hefty blows, which could knock Wilder back to the ropes. Regardless of what happens, this upcoming matchup will be one of the most memorable in recent memory.
Our Prediction: Wilder to win
After considerable deliberation, we believe that Deontay Wilder will defeat Ortiz on November 23rd. Even though Luis Ortiz has increased his weight size, most are forgetting that Deontay hasn't ever been knocked out in the ring.
People also forget that with larger weight sizes, means slower punches and stamina being spent faster. Deontay will be faster than and have larger amounts of stamina, which means he can last the ten rounds easily and Luis Ortiz cannot. Subsequently, Deontay will lay more punches and get more points to win this fight.
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Fab 8 deal still tops in NY after Amazon collapse
Larry Rulison
Feb. 23, 2019 Updated: Feb. 23, 2019 8:05 p.m.
1of23Times Union staff photo by Cindy Schultz Hector Ruiz, CEO and chairman of Advanced Micro Devices Inc. (AMD), center, shakes hands with Gov. George Pataki, right, and Sen. Joseph Bruno, left, during a news conference on Friday, June 23, 2006, at CESTM in Albany, N.Y. AMD will build a computer chip fab plant in Luther Forest in Stillwater. (day 1)
2of23Times Union staff photo by Lori Van Buren -- From left, Mike Relyea, President of Luther Forest Technology Campus, Hector Ruiz, CEO and chairman of Advanced Micro Devices Inc. (AMD), Joe Bruno and Assemblyman Roy McDonald take a tour of the Luther Forest Technology Campus in Malta, NY on August 27, 2008.
3of23Times Union staff photo by John Carl D'Annibale: NYS Senator Joseph Bruno talks on a cell phone as he walks to his car following an address to theSEDC "Lunch with AMD" at the City Center in Saratoga Springs Tuesday January 23, 2007. FOR ANDERSON STROY
4of23Jon "Jack" Kelley, far left, more than a decade ago when he and other executives with the Saratoga Economic Development Corp. were showing Advanced Micro Devices site selection's team around Luther Forest in Malta. Former SEDC president Ken Greene is third from right with his arms crossed. GlobalFoundries, an AMD spin-off, ended up building the factory, ultimately spending $12 billion and employing 3,000 people at the site.
5of23NEW YORK, NY - NOVEMBER 13: (L-R) New York Governor Andrew Cuomo and New York City Mayor Bill de Blasio talk with each other during a press conference to discuss Amazon's decision to bring a new corporate location to New York City, November 13, 2018 in New York City. Amazon announced earlier in the day that it has chosen Arlington, Virginia and Long Island City in Queens as the two locations, which will both serve as additional headquarters for the company. Amazon says each location will create 25,000 jobs. (Photo by Drew Angerer/Getty Images) *** BESTPIX ***
6of23Times Union staff photo by Lori Van Buren -- From left, Mike Relyea, President of Luther Forest Technology Campus, Hector Ruiz, CEO and chairman of Advanced Micro Devices Inc. (AMD), and Joe Bruno use a site tour map and a GPS device to check out the campus during a tour of the Luther Forest Technology Campus in Malta, NY on August 27, 2008.
7of23CINDY SCHULTZ/TIMES UNION -- Former Sen. Joseph Bruno, left, and Assembly Majority Leader Ron Cannestrari, right, share a light moment during the announcement of AMD plans on Wednesday, Oct. 8, 2008, at the Luther Forest Technology Campus in Malta, N.Y. (WITH RULISON STORY)
8of23Times Union staff photo by Lori Van Buren Senate Majority Leader Joseph Bruno thanks people at a chicken BBQ/thank you party that he held for local officials who worked to bring the AMD computer chip manufacturing plant to Luther Forest. The BBQ was held at the Luther Forest Technology Park in Malta, NY on June 29, 2006.
9of23Times Union staff photo by Cindy Schultz Gov. George Pataki stands in front of the CESTM building after the Advanced Micro Devices Inc. (AMD) news conference on Friday, June 23, 2006, at CESTM in Albany, N.Y. AMD will build a computer chip fab plant in Luther Forest in Stillwater.
10of23State Sen. Michael Gianaris, whose district includes the Queens neighborhood where Amazon is seeking to build a new campus, in his offices in Albany, N.Y., Feb. 5, 2019. Amazon said on Feb. 14, that it was canceling plans to build its corporate campus in Long Island City. The deal had run into fierce opposition from local lawmakers who criticized providing subsidies to one of the world?'s richest companies. Gianaris had been chosen for a state board that could veto the deal. (Cindy Schultz/The New York Times)
11of23New York City Councilman Jimmy Van Bramer, second from left, speaks during a press conference in Gordon Triangle Park in the Queens borough of New York, following Amazon's announcement it would abandon its proposed headquarters for the area, Thursday Feb. 14, 2019. (AP Photo/Bebeto Matthews)
12of23FILE - In this Sept. 13, 2018, file photo Jeff Bezos, Amazon founder and CEO, speaks at The Economic Club of Washington's Milestone Celebration in Washington. Amazon has had a complicated few weeks with its cancellation of a New York headquarters Thursday, Feb. 14, 2019, and extortion claims last week related to intimate photos taken by its founder. Experts say the events are unlikely to pose much of a threat to Amazon?'s business. But the company will continue to face more challenges as it grows larger. (AP Photo/Cliff Owen, File)
13of23Demonstrators hold signs during a protest against Amazon outside of City Hall in the Long Island City neighborhood in the Queens borough of New York, U.S., on Wednesday, Jan. 30, 2019. Photographer: Sangsuk Sylvia Kang/Bloomberg
14of23NEW YORK, NY - FEBRUARY 14: Activists and community members who opposed Amazon's plan to move into Queens rally in celebration of Amazon's decision to pull out of the deal, in the Long Island City neighborhood, February 14, 2019 in the Queens borough of New York City. Amazon said on Thursday that they are cancelling plans to build a corporate headquarters in Long Island City, Queens after coming under harsh opposition from some local lawmakers and residents. (Photo by Drew Angerer/Getty Images)
15of23(FILES) In this file photo taken on September 19, 2018 Amazon and Blue Origin founder Jeff Bezos provides the keynote address at the Air Force Association's Annual Air, Space & Cyber Conference in Oxen Hill, MD. - Amazon CEO Jeff Bezos on February 7, 2019 accused the publisher of the National Enquirer of "blackmail" after it threatened to publish intimate photographs sent by the billionaire to his mistress. (Photo by Jim WATSON / AFP)JIM WATSON/AFP/Getty Images
16of23FILE -- State Sen. Michael Gianaris of Queens talks to reporters in New York, Nov. 14, 2018. Gianaris is a critic of the Amazon deal, and has been nominated to sit on a state board that could kill it. (Hiroko Masuike/The New York Times)
17of23FILE - In this Nov. 13, 2018, file photo, a sea gull flies off holding fish scraps near a former dock facility, with "Long Island" painted on old transfer bridges at Gantry State Park in the Long Island City section of the Queens Borough in New York. New York officials say their deal to land a new Amazon headquarters is a big win for the city, but the math is a little more complicated than government projections indicate. (AP Photo/Bebeto Matthews, File)
18of23Part of a planned Amazon headquarters site in Long Island City in Queens, Nov. 14, 2018. After announcing a deal to bring an Amazon headquarters to New York, Gov. Andrew Cuomo and Mayor Bill de Blasio have spent the last week doing damage control. So far, it isn?'t working. (Hiroko Masuike/The New York Times)
19of23Demonstrators protest against the coming of Amazon's second headquarters, at an Amazon store in Manhattan, Nov. 26, 2018. (Jeenah Moon/The New York Times)
20of23Marty Vanags, president of the Saratoga County Prosperity Partnership presents the Saratoga county real estate index Thursday Dec. 13, 2018 in Malta, NY. (John Carl D'Annibale/Times Union)
21of23TIMES UNION STAFF PHOTO WILL WALDRON--Kenneth Green, President of Saratoga Economic Development Corp, right, is congratulated by SEDC Senior Vice President Jack Kelley, left, after making the announcement of an AMD chip fabrication plant to be built on the Luther Forest Tech Park in Malta, during a press conference Friday afternoon June 23, 2006.
22of23TIMES UNION STAFF PHOTO BY WILL WALDRON Kenneth Green, President of Saratoga Economic Development Corp, right, celebrates the announcement of an AMD chip fabrication plant to be built on the Luther Forest Tech Park in Malta, with SEDC Senior Vice President Jack Kelley, center, and Jon Dawes, left, also from SEDC, during a press conference Friday afternoon June 23, 2006.
23of23Thomas Howell, left, looks on as Dr. Charles Wessner addresses those gathered at a conference entitled, Tech Valley: Lessons from the New York Nano-Cluster Success Story, on Monday, April 30, 2018, in Saratoga Springs, N.Y. Howell and Wessner were there to discuss their findings from their multi-year, in-depth study the tech industry in the Capital Region. (Paul Buckowski/Times Union)
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In many ways, the incentive deal that New York state offered to Amazon to build a headquarters in Long Island City was nearly identical to the package of cash and tax breaks offered to Advanced Micro Devices 12 years ago to build a computer chip factory in Saratoga County.
In fact, with Amazon expected to hire 25,000 people in Queens with an average salary of $150,000, the $1.7 billion in grants and tax breaks offered by the state was a relative steal.
After all, until the deal with Amazon was announced in August, the largest corporate incentive deal ever offered in New York state had been the $1.2 billion package promised to Advanced Micro Devices in 2006 to build a $3.2 billion computer chip factory at the Luther Forest Technology Campus in Malta.
The AMD deal, critics wailed at the time, equated to about $1 million per job. The Amazon deal on the other hand, was valued at $68,000 per job, about six months' pay for the workers Amazon expected to hire.
Jon "Jack" Kelley, one of the key local economic development players who helped bring AMD to Saratoga County, said he was thrilled when the Amazon deal was announced back in November and had surpassed the AMD deal as the largest and perhaps most significant in state history.
"I was more than happy to give up that title," said Kelley, who is now director of economic development for Prime Cos. "And I'd be glad to give it up again. Next time, let's go get it done."
But no one can dispute that the AMD deal provided one of the best returns on investment for any economic development deal in recent state history — something that will only be a 'what if' question surrounding the Amazon deal.
Under the terms of the state's 2006 deal with AMD, the chip maker promised to create 1,205 jobs with an average salary of $60,000.
As it turned out, the AMD deal ended up being an unqualified success for the state, with more than double the number of jobs created and four times the expected capital investment.
One key ingredient that helped make it a success was when AMD spun its manufacturing operations into a new company called GlobalFoundries that was infused with billions of dollars from the oil-rich emirate of Abu Dhabi.
Looking to diversify its economy to make it sustainable into the future, the government of Abu Dhabi has been extremely patient with its investment in GlobalFoundries, taking a long-range view that would require tens of billions of dollars in capital to succeed.
As a result, GlobalFoundries didn't just beat its job creation and capital investment obligations with New York state — it obliterated them.
Since breaking ground at the Luther Forest Technology Campus in Malta in 2008, GlobalFoundries has spent $12 billion building — and expanding — what it now calls its Fab 8 campus.
Employment at the 1.3 million-square-foot facility today is 3,000, more than double its original promise, although layoffs last year reduced that from a high water mark of about 3,500.
And the average salary of workers at Fab 8 is $92,000 — more than 50 percent higher than what had been touted back in 2006.
The total amount of state subsidies that GlobalFoundries reaped from the state over a 10-year period has actually been closer to about $1.7 billion, which includes benefits earned through the Saratoga County Industrial Development Agency, which provides sales tax exemptions on the purchase of manufacturing equipment and construction materials.
Similarly, the Amazon deal would have also been much larger than just the state's $1.7 billion offer. Amazon could have earned another $1.3 billion in tax breaks under two New York City incentive programs if it reached its job-creation and investment goals.
Multiple studies of the GlobalFoundries deal have come to the conclusion that New York and local communities have experienced a net gain on the mega-deal in terms of jobs and tax generation, despite the subsidies.
Charles Wessner, a Georgetown University professor who has studied the GlobalFoundries deal and New York's semiconductor industry strategy, says that each job created at Fab 8 has an indirect effect of creating other jobs — the so-called multiplier effect.
One of the most respected models of the multiplier effect was created by University of California at Berkeley economist Enrico Moretti, who found that for every innovation job created, there are five additional jobs created in other sectors of the local economy.
Using the Moretti model, Wessner says it's safe to say that Fab 8 has created 17,000 additional local jobs, from real estate agents to day care workers and convenience store clerks.
Wessner cited the success of New York's investment in Fab 8 at an international development conference held in Seville, Spain back in September. He said that the $360 million payroll at Fab 8 had a ripple effect throughout the Capital Region economy.
"If you look at the multiplier, there is a lot of jobs created," Wessner said. "Why? Because there's a lot of money being paid to high-tech employees."
Wessner's research also found that Fab 8 generated $992 million in state tax receipts between 2010 and 2016, when the annual total reached $257 million. Local tax payments and fees also reached $85 million during that period.
Marty Vanags, president of the Saratoga County Prosperity Partnership, says it's the steady, lucrative paychecks high-tech workers earn that are the hallmark of successful deals more than anything else.
That income gets recirculated back into the local economy in the form of demand for new services and pumps sales tax and other revenue into the economy that creates what Vanags calls a higher "quality of place" that in turn attracts other businesses to move to the area and leads to new business startups.
"The biggest impact is the impact that wage provides," Vanags said. "I call it the economic development circle of life."
On Valentine's Day, Amazon made it official that it wasn't going to be participating in the circle of life in Queens, citing opposition by a small number of local political leaders and activists.
"For Amazon, the commitment to build a new headquarters requires positive, collaborative relationships with state and local elected officials who will be supportive over the long-term," Amazon said in its statement announcing it was terminating the deal on Feb. 14. "While polls show that 70 percent of New Yorkers support our plans and investment, a number of state and local politicians have made it clear that they oppose our presence and will not work with us to build the type of relationships that are required to go forward with the project we and many others envisioned in Long Island City."
It's difficult to quantify what the long-term fallout will be for both the state and Amazon.
In many ways, the collapse of the deal so early and quickly has been worse than any downside risks the deal posed to the state.
New York officials said the Amazon deal, which offered up to $3 billion in state and city subsidies, would have generated $27.5 billion in new tax revenue over a 25-year period, a nine-to-one return on the combined state and city incentive package.
And the overall economic impact over that period would have been $186 billion, city and state officials said, a huge opportunity lost for the entire state, not just New York City, Gov. Andrew Cuomo said.
"Bringing Amazon to New York diversified our economy away from real estate and Wall Street, further cementing our status as an emerging center for tech and was an extraordinary economic win not just for Queens and New York City, but for the entire region, from Long Island to Albany's nanotech center," Cuomo said after Amazon delivered the bad news.
Kelley, who worked for the Saratoga Economic Development Corp. back when he helped lure AMD to New York, says the failure of the Amazon deal to transpire "really puts a black eye" on the state's business image.
But Kelley doesn't think that it's just a political failure but also signals that perhaps Amazon's frenzied site selection process, in which more than 200 cities showered Amazon with lavish incentive deals and praise, may not have been as effective as it seemed.
"I find Amazon to be at fault as much as New York state," Kelley said. "There should be some heads that roll at Amazon. It turned out to be a flawed approach. Maybe we made it look a little too easy."
Kelley believes the difference between the success of the AMD deal and the failure of the Amazon deal lies in the years that he and countless others spent getting to learn about the computer chip industry and helping local communities get comfortable with the idea of having a chip fab in their backyard.
Hundreds of meetings were held over many years just to solidify local support even before an agreement was struck with AMD.
And SEDC officials had learned that they had to lay the groundwork for community support long before seeking a tenant after watching residents in North Greenbush reject plans to bring a computer chip manufacturer to the Rensselaer Technology Park back in 1999.
Kelley and others learned that everyone from local town supervisors to fire chiefs and homeowner associations had to be on board with the idea even before it became a reality.
"We had the support of the community and elected officials," Kelley said. "It was at the lowest levels. That's really where economic development takes place. A lot of people think this just happened. It didn't."
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Larry Rulison has covered technology, manufacturing and energy stories as a business reporter for the Times Union since 2005.
A graduate of Colby College, Rulison began his journalism career as the editor of the Canastota Bee-Journal in 1994. He later worked for the Fayetteville Eagle Bulletin, the Baldwinsville Messenger, the Adirondack Daily Enterprise, the Baltimore Business Journal and the Philadelphia Business Journal. He also covered the mutual fund industry in Boston for Mutual Fund Market News.
He has been at the forefront of coverage of the emerging semiconductor industry in the Capital Region, including construction of the $4.6 billion GlobalFoundries computer chip factory in Saratoga County.
Contact him at (518) 454-5504
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