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Amazon’s North Andover Warehouse Exceeds Budget by $200M+
Amazon’s North Andover warehouse, opened earlier this year, cost over $600 million to build, significantly exceeding the initial $400 million estimate, Boston Business Journal reported.
The five-story, 3.8-million-square-foot distribution center, Amazon’s largest in Massachusetts, employs over 1,500 workers. The cost overrun reflects post-COVID-19 construction challenges, including inflation, supply-chain issues, and labor shortages. Amazon partnered with Hillwood and Whiting-Turner on the project. Despite the cost increase, Amazon received a $27.3 million tax increment financing award from North Andover, saving on local property taxes over 10 years.
As of 2023, Amazon employed nearly 10,500 full-time workers in Massachusetts, doubling its 2019 headcount.
- ◦Financing
