Apple May Receive $7.4 Million In Tax Breaks To Build New Texas Campus
Last month, we reported that Apple was planning to build a new campus in Texas. Now if online reports being passed from an Austin news outlet are to be believed, Apple might receive tax rebates worth $7.4 million over the next 10 years if it goes ahead with plans to build a new campus in Northwest Austin.
Now if we combine this with the nearly $30 million in tax breaks and incentives that Apple is already set to receive there is going to be a huge moolah for Apple. Apple has a lot of reasons to want to start building its new offices as soon as possible.
The city of Austin also stands to benefit from the construction. The new campus is expected to double Apple’s work force in Northwest Austin by creating some 3,600 jobs. The report has noted that the terms of the tax deal call for Apple to hire a number of local workers.
This move should appease some critics, who believe that Apple is not doing enough to create jobs in the US. The Cupertino, California based company has been under heavy fire recently for refusing to bring any part of its enormous supply chain operations to United States.
As far as the campus, the two-phase buildout will consist of a 200,000 square-foot office, and a second nearly four times that size. Construction that would cost for the two buildings is estimated to be over $300 million dollars. It could begin as early as this summer.
Source: iDownload Blog