Amazon Opens Search for Second Headquarters City in North America Inc. is in the market for a second home.

The Seattle-based online retailer said Thursday it plans to open a second headquarters somewhere in North America that will house up to 50,000 employees and cost $5 billion to build and operate.

The company is soliciting bids for the project, dubbed Amazon's "HQ2," and said it would prioritize metropolitan areas with more than one million people.

"We expect HQ2 to be a full equal to our Seattle headquarters," Amazon's Chief Executive Jeff Bezos said in prepared remarks. "Amazon HQ2 will bring billions of dollars in upfront and ongoing investments, and tens of thousands of high-paying jobs. We're excited to find a second home."

Amazon estimates that its existing Seattle headquarters, which opened in 2010, has brought an additional $38 billion in investments to the local economy.

Existing senior leaders will get to choose whether they locate their teams in the Seattle headquarters, HQ2 or both, the company said.

Write to Cara Lombardo at

(END) Dow Jones Newswires

September 07, 2017 06:44 ET (10:44 GMT)