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Apple dropping over $300M to expand TX facility

Posted: , by Charlene S.

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Apple dropping over $300M to expand TX facility
They say everything is bigger in Texas. Soon, Apple is going to be a whole lot bigger in Texas too. It is being reported that the wheels have been set in motion for the company to begin expanding its existing campus in Austin.

While the exact acerage and price is unknown, the Austin Business Journal discovered that a deal was finalized on June 20th between Apple and McShane Development Co., LLC for three tracts of land in the Milwood Section 20 subdivision, which is adjacent to Apple’s current Austin location.

The Cupertino-based giant plans to spend approximately $304 million on the entire expansion and said it estimates it will double its Texas workforce by creating an additional 3,600 jobs.

As a part of the deal, Apple has received an $8.6 million grant from the city of Austin and an additional $5.4 million in tax rebates from Travis County for pledging to maintain an average salary of $35,000 for the bottom 10% of its employees and a minimum contractor rate of $11 an hour. Additionally, the state of Texas plans to award the company $21 million over the course of ten years via the Texas Enterprise Fund for the creation of the additional jobs.

source: BGR

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1. Synack posted on 19 Jul 2012, 20:15 1

lol. Hipster company in hipster city.

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2. tkvdog posted on 19 Jul 2012, 21:26

Yea And The Person Down The Street Cant Even Feed Himself&Family Great Job Apple:(

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3. MISTER_H (banned) posted on 19 Jul 2012, 21:37

Gallitoking and Taco are both banned...

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4. fanesxx posted on 19 Jul 2012, 21:47

$300 Million ain't nothing to the sour apple

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5. remixfa posted on 19 Jul 2012, 22:31

so.. wait..

they get a 5 million dollar tax rate to guarantee contractor rates (90% chance its union contractors only)???

nothing like screwing the citizens to pay for union and special interests. And here everyone is claiming their local governments are going bankrupt. oi..

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6. greathero1 posted on 19 Jul 2012, 22:52 1

Well Austin has not been screaming bankruptcy. It's common here in Texas to give tax rebates or lower the tax bill of companies who bring jobs to the state. It's one of the big reasons why we lead the country in job creation. Whether you are in liberal urban cities or conservative suburban cities, its quite common here to give tax breaks. Its one of the many ways we stay competitive in attracting business to set up shop or expand. Also, unions are not big here and have very little influence in our state. This is a right to work state but even if union employees were apart of the construction of the expansion who cares. They are working for that minimum $11/hr which is better than depending on the state or fed. Nothing wrong with having a company pay the areas living wage, especially if they are going to take a tax concession from Travis County and from the State.

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7. Aeires (unregistered) posted on 20 Jul 2012, 07:09

I don't get the $8.6 million grant, did Austin not get the memo Apple has around $100 billion in reserves?

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