Apple strikes tax deal for new campus in Texas
Apple has been given the go-ahead to put a new campus in North Austin. The deal will give the company $5.4 million to $6.4 million in tax rebates over the next 15 years.
Apple and Austin are in business together for the company's new Texas campus, following a vote from the local court.
The Austin-based Statesman newspaper reports that the Travis County Commissioners Court today voted 4-1 in favor of a deal that will give Apple $5.4 million to $6.4 million in tax rebates over the next 15 years as the company constructs a campus that will bring some 3,600 jobs to the area.
The decision comes days after a local official said a deal was "in peril." Concerns were raised about the contract, which remained under negotiation.
More than a month ago the City of Austin approved an $8.6 million rebate over 10 years, as well as a $21 million incentive deal from the Texas Enterprise Fund, the Statesman reported. In return, Apple has verbally committed to hiring local residents to work in its facility, which is set to be completed by 2021.
News of the campus was originally unwrapped in early March, with Apple pledging to drop $304 million into a campus that would double the size of Apple's existing workforce in Texas. The project is separate from Apple's efforts in Cupertino, Calif. where Apple wants to build a second campus that will hold more than 12,000 employees in one complex.