Amazon To Reveal Second Headquarters Location By Year-end

(RTTNews) - Amazon.com Inc. (AMZN) Chief Executive Officer Jeff Bezos said the company will reveal the location of its new headquarters before the end of the year.

"We will announce a decision before the end of this year, so we have made tremendous progress, the team is worker their butts off on it, and we will get there," he said, speaking at the Economic Club of Washington on Thursday, Business Insider reports.

Previously, Amazon had revealed a shortlist of 20 locations as candidates. The company plans to invest over $5 billion and grow the second headquarters to accommodate as many as 50,000 high-paying jobs.

The selected metropolitan areas are Atlanta, GA; Austin, TX; Boston, MA; Chicago, IL; Columbus, OH; Dallas, TX; Denver, CO; Indianapolis, IN; Los Angeles, CA; Miami, FL; Montgomery County, MD; Nashville, TN; Newark, NJ; New York City, NY; Northern Virginia, VA; Philadelphia, PA;Pittsburgh, PA;- Raleigh, NC; Toronto, ON; Washington D.C.

Amazon HQ2 is expected to create tens of thousands of additional jobs and tens of billions of dollars in additional investment in the surrounding community. The average rental and home prices as well real estate rates expected to increase sharply.