Apple's new Austin campus won by $41M in incentives
Williamson County commissioners in Texas voted 5 to 0 on Tuesday to approve tax-funded handouts to Apple as it works to establish its second, $1 billion campus in north Austin.
The incentives are worth up to $16 million over the course of a 15-year term, the Austin American-Statesman reported on Tuesday. That's on top of another $25 million from the Texas Enterprise Fund.
The commissioners took just 30 minutes to approve the new measure. Apple's senior director of Americas operations, Tony Ross, spoke in front of the group, claiming that Texas is "absolutely essential" to the company.
"It felt totally natural that we'd continue to grow here in the Lone Star state," he added. "We are so excited that Williamson County will soon become an important part of our story."
Apple has had some form of presence in Austin since 1992, but several years ago it established a major campus on West Parmer Lane and currently employs about 6,200 people in the city. Much of its non-retail workforce is dedicated to operations work and AppleCare.
The upcoming campus could add as many as 5,000 jobs in the long term, and make Apple the single biggest private employer within Austin, even though Dell and Amazon's Whole Foods have their global headquarters in the area.
AppleInsider recently visited the site of Apple's future campus, about mile from the existing one. So far no real construction work has begun, but we'll be checking in regularly as it progresses.
The incentives are worth up to $16 million over the course of a 15-year term, the Austin American-Statesman reported on Tuesday. That's on top of another $25 million from the Texas Enterprise Fund.
The commissioners took just 30 minutes to approve the new measure. Apple's senior director of Americas operations, Tony Ross, spoke in front of the group, claiming that Texas is "absolutely essential" to the company.
"It felt totally natural that we'd continue to grow here in the Lone Star state," he added. "We are so excited that Williamson County will soon become an important part of our story."
Apple has had some form of presence in Austin since 1992, but several years ago it established a major campus on West Parmer Lane and currently employs about 6,200 people in the city. Much of its non-retail workforce is dedicated to operations work and AppleCare.
The upcoming campus could add as many as 5,000 jobs in the long term, and make Apple the single biggest private employer within Austin, even though Dell and Amazon's Whole Foods have their global headquarters in the area.
AppleInsider recently visited the site of Apple's future campus, about mile from the existing one. So far no real construction work has begun, but we'll be checking in regularly as it progresses.
Comments
I think CA will be fine. Silicon Valley, Hollywood, coastal living, beautiful wilderness, and good weather seem to be pretty popular with people. I don’t see these things becoming less popular.
I'm not a big fan of huge government handouts to corporations, but given the size of the project, just over $1M per year is pretty modest.
The richest company in the world getting a $41 million incentive from money taken out of education, infrastructure, etc., from the good people of Williamson County. Hmmmmmm. Not cool!
For some reason Americans put shareholder's rights above all other considerations. Business are continually allowed to raid public taxpayer coffers!
*The top one tenth of 1% (.01%) now have as much assets/wealth as the bottom 90%!
Something is amiss, afoot, alas!
*Source: Fareed Zakaria GPS: (12/16/18)
Are you really sure this campus is partly funded by tax money? Maybe Apple will just pay less tax later?
what does this actually fucking mean, or are you just being a dick? I suspect the later.
California Companies Flee Business-Hostile State In Droves
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- Investors Business Daily
Or maybe it’s calculated as an offset of property taxes Apple will be paying on the portion of the land Apple will maintain as green space. Again, a fair compromise that places the local government in partnership with the company for a shared social/environmental benefit. Otherwise why a mere $41 million against a billion dollar project? Seems like it’s almost a token incentive and that suggests to me it’s likely tied to some specific shared benefit, not merely the highest bid to secure the presence of a job creator.
To the county that's not bad vs. 5000 jobs. That works out to only $213.33 per job per year.
You have Apple charging a whole lot of money for their phones. Then try to get the cheapest deal and pay out the least amount of taxes for themselves and screwing over the taxpayers. I really don't get this. You get less tax money, and then have all the issues off a bunch more people moving into town.
I don't care where this happens at or whatever company. It just makes Apple look more and more greedy. How much is to much? Just like trying to get app developers to move to a subscription, so Apple can get their 30% cut every month. I have a number of Apple products, but I'm not going to kiss their greedy butt.
Now, I'm sure EVERYONE in Williamson County will still benefit from having Apple, Inc. paying a lot of property tax in Williamson County. Along with Apple employees spending their money there. And EVERYONE in Texas will benefit from Apple Inc. paying corporate taxes in Texas.
Think about this. When Williamson County and the State of Texas offered Apple Inc. a tax discount on the taxes that they are going to be paying, Williamson County and the State of Texas will still be making more in taxes than if Apple Inc. were not to locate there. Now, if Williamson County or Texas offered to reduce taxes for EVERYONE in Williamson County or Texas, who pays for that?
Considering that the only taxes that EVERYONE in Texas pays, is sales tax. Who or what makes up for the lost revenue from sales tax, if that were lowered? Would you move to Texas because they have a lower sales tax than the State you're in now? But I do know people that would consider moving to Texas (usually upon retirement) because they have no State income tax. And that already applies to EVERYONE living in Texas and Texas can't reduce that tax any more. Reducing property tax only benefit property owners.
You get it now?