Following pressure from local lawmakers and activists against it New York headquarters plans, ecommerce behemoth Amazon announced on Thursday that it would be canceling its HQ2 project it had slated for the Long Island City section of Queens.

What does that mean for Philadelphia, where local stakeholders eagerly participated in the national year-long search, and banded to create a comprehensive proposal — complete with a $5.7 billion joint incentive package between Philly and Pennsylvania — to woo the company here, but later learned the city was not picked?

The immediate impact is not major, since Amazon announced it has no plans to reopen the bid process for now, and will instead shift its focus to the second site picked for the HQ2 project, a site called National Landing in Northern Virginia.

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