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Amazon’s sudden decision to cancel its plan to build a corporate campus in Long Island City, Queens, amounted to a stunning defeat for the two often-at-odds politicians who had heralded its arrival, Gov. Andrew M. Cuomo and Mayor Bill de Blasio, and the biggest win yet for emboldened left-wing progressives in New York.

The turn of events on Thursday suggested a reordering of New York’s political power structure, as one of the world’s biggest companies was driven from Queens by a group of activists and elected officials who objected to a suite of corporate sweeteners and tax breaks.

But as this reality settled into New York, the architects of the uprising faced a backlash of their own, as 25,000 jobs — potentially remaking Long Island City as a high-tech hub — had vanished in a blink, and with them the chance to inject billions of dollars in tax revenues in the coming years. Polls showed that the deal offering Amazon tax incentives remained largely popular with New Yorkers.

[For the full story on Amazon’s stunning decision to pull out of New York, read more here.]

The Amazon fight has exposed deep fissures within the Democratic Party between business-friendly centrism and unalloyed populism, in New York and beyond. Mr. Cuomo and Mr. de Blasio had pushed the Amazon deal as a vehicle to not only create jobs, but to boost the economy while transforming the nature of Long Island City.