The wait is finally over. Amazon announced today that its new headquarters will be split between New York City and Arlington, Virginia.

Specifically, the two headquarters will be located in Long Island City in Queens, and in National Landing, or Crystal City, in Arlington. The retail tech giant will invest $5 billion and create more than 50,000 total jobs in the two cities.

Amazon, HQ2

Courtesy Amazon.

“We are excited to build new headquarters in New York City and Northern Virginia,” said Jeff Bezos, founder and CEO of Amazon. “These two locations will allow us to attract world-class talent that will help us to continue inventing for customers for years to come. The team did a great job selecting these sites, and we look forward to becoming an even bigger part of these communities.”

Amazon also announced that Nashville will be home to a new Operations Center of Excellence, which will be responsible for customer fulfillment, transportation, supply chain, and related operations. The center will create 5,000 new jobs.

Amazon, HQ2

Courtesy Amazon.

The search for Amazon’s HQ2 began in 2017. Earlier this year, the company released 20 finalist cities, excluding Tacoma — which made an official bid last October — and including cities like Boston, Chicago, Atlanta, Los Angeles, Denver, New York City, and Northern Virginia.

Amazon has more than 610,000 employees around the globe. At its Seattle headquarters, Amazon employs approximately 40,000 people and occupies 33 buildings and 8.1 million square feet. The company also estimates that from 2010 through 2016, its investments resulted in an additional $38 billion added to the Seattle economy.

“When I took office, I said we would build a new New York State – one that is fiscally responsible and fosters a business climate that is attractive to growing companies and the industries of tomorrow. We’ve delivered on those promises and more, and today, with Amazon committing to expand its headquarters in Long Island City, New York can proudly say that we have attracted one of the largest, most competitive economic development investments in U.S. history,” said New York Governor Andrew M. Cuomo.

Virginia Governor Ralph Northam echoed Cuomo’s sentiments, saying, “This is a big win for Virginia – I’m proud Amazon recognizes the tremendous assets the Commonwealth has to offer and plans to deepen its roots here.”

While many in New York and Virginia are ecstatic about the decision, some are skeptical. There are concerns that Amazon’s arrival will put pressure on the housing markets and transportation systems in the two regions.