A manifestation of its exponential growth in the market as well its position as a globally recognized brand name, Amazon's (AMZN  ) new headquarters has everyone buzzing.

On Thursday, the e-commerce behemoth declared that it was officially looking for a place to build its second base in the United States, dubbing this location as its "HQ2." The development would reportedly cost around $5 billion to construct and operate and would harbor as many as 50,000 employees.

"We expect to invest over $5 billion in construction and grow this second headquarters to include as many as 50,000 high-paying jobs," Amazon said on its website. "In addition to Amazon's direct hiring and investment, construction and ongoing operation of Amazon HQ2 is expected to create tens of thousands of additional jobs and tens of billions of dollars in additional investment in the surrounding community."

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Of course, this announcement has caught the attention of a slew of dynamic cities all eager to carry the Amazon name as a power bank for their economies. Amazon however, has its own set of requirements for which city should capture its attention. For one, it has to be a metropolitan location with a population of more than 1 million. It also needs to be a a "stable and business-friendly environment," and be able to "attract and retain strong technical talent."

Keep in mind the new headquarters would be a whole new base in and of itself in addition to Amazon's original Seattle office, giving executives and employees the chance to pick either as their workplace. This would further endow Amazon with even more interconnectedness than it already possesses, giving it even more exposure in its biggest market yet.

Some of the cities that seem to be in the running include Dallas, Chicago, Toronto, Washington D.C. and Pittsburgh. For Amazon, the ideal location would also offer considerably beneficial tax breaks, which puts a spotlight on the 12 states that offer "high-technology tax incentives."

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"Chicago's unmatched workforce, world-class universities and unparalleled access to destinations throughout the world make it the perfect headquarters location for companies large and small," said Chicago's mayoral spokesman Grant Klinzman. "That's also why Chicago has led the nation in corporate relocations for the last four years."

While the enthusiasm of so many cities regarding this relocation is glaring, Amazon's decision is most definitely a double edged sword in terms of activists' reactions and environmental issues, which have been brought up in Seattle too. The issue of gentrification, as well as subjecting workers to an immensely high-pressure workplace are notions that cities need to consider as well, particularly extremely communally fragmented places like Chicago.

That said, the Amazon brand name itself is sufficient to revitalize a small economy, especially with 50,000 jobs at stake. Whichever city wins the bidding war for this prime opportunity must also be ready to bear the costs of such an endeavor as well as ensure that integration of the HQ is smooth and efficient.