Will Amazon.com Inc (NASDAQ:AMZN)’s Presence In Kenosha Bear Fruit?

Posted by admin October 6, 2013 0 Comment 2079 views

Kenosha City had been very secretive about Amazon.com, Inc (NASDAQ:AMZN) over the last few weeks. The board will be holding a meeting at the City Council on Monday and will vote on a range of development-agreements that are being dubbed “Project Onyx”. This development is taking place for Amazon.com, Inc (NASDAQ:AMZN) and it is the first time that the city is confirming that the company will be leasing the proposed 1.5M sq ft project.

High- profile project

Keith Bosman said that this deal between KTR, the developer, the city and the company has been in the pipeline for months now, but the details were finalized only on Friday morning. Bosman said that this development will be beneficial to the city in that will create a minimum of 1,100 full-time jobs which he said is a significant number of good-paying jobs.

He went on to say that it is a high quality company and that a high-quality developer is involved in the project. As per the job postings by Amazon.com, Inc (NASDAQ:AMZN), the jobs at the company’s fulfillment centers have starting salaries of approximately $11.25/hour which amounts to $23,000 per annum and there are added benefits as well.

Friday’s trading session

In Friday’s trading, Amazon.com, Inc (NASDAQ:AMZN) rose by 1.36%. The opening price of the shares was $315.13, which climbed to an intraday high of $319.20 and dipped to a close of $319.04. Approximately 1.81 million shares were traded on Friday while an average volume of 2.11 million shares were traded over a 30 day period. The 52-week low of the shares is $218.18 and its 52-week high is $322.92. The company has a market capitalization of $145.76 billion.

About the company

Amazon.com, Inc (NASDAQ:AMZN) was incorporated on 28 May 1996. It serves consumers via its retail-websites and focuses on price, selection as well as convenience. It is also engaged in the manufacture of Kindle devices.

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