NEW YORK (CBSNewYork) — Online retail giant Amazon says it will make a decision by the end of the year in its search for a second headquarters location.

Company officials are looking at 20 cities, including New York City and Newark.

Other cities being considered are Boston, Pittsburgh, Philadelphia, Montgomery County, Washington D.C., Raleigh, Northern Virginia, Atlanta, Miami, Austin, Dallas, Los Angeles, Nashville, Denver, Chicago, Indianapolis, Columbus and Toronto.

The new Amazon headquarters is expected to have as many as 50,000 employees and and $5 billion in investments.

To land the operations in Newark, the city and state of New Jersey have offered $7 billion in incentives.