All Stories

Apple to get huge tax breaks for Texas campus
/ April 6, 2012 12:47 pm

Apple is negotiating for further incentives related to the $304 million campus is is planning to build in Austin, Texas. Texas Gov. Rick Perry had previously announced that the company will receive a $21 million investment over the next 10 years from the Texas Enterprise Fund (TEF), noting that the project is expected to create 3,600 new jobs.

Today the Austin American-Statesman reported that the surrounding Travis County is considering giving Apple an 80 percent rebate on its tax bill for 10 years, which would be worth about $7.4 million. In exchange, the county wants guarantees that an undisclosed percentage of its employees will be “economically disadvantaged” local residents.

Those state and county deals are in addition to the City of Austin, which recently approved $8.6 million in tax breaks for Apple’s plans.

The paper further detailed that the Northwest Austin campus will be built in two phases: first a $56.5 million project totaling 200,000 square feet, then a $226 million one of up to 800,000 square feet.

Thanks to “Texas Bat Saver” for the tip.

Related link:

Austin American-Statesman – Travis County considers terms for Apple

Photo of the Apple Store in Austin by Flickr user Gideon Tsang, used under Creative Commons license

 


Comments are closed

Get Adobe Flash player