Apple Could Get $7.4 Million Incentive for Building New Campus in Austin, Texas

Travis County is considering offering Apple up to $7.4 million in tax breaks for up to 10 years — with a possible five-year extension — for building its new campus in Austin, Texas. In return, Apple must agree to hire a percentage of “economically disadvantaged” local residents, which could mean unemployed residents that have gone through targeted job training or those that live in a poor area that has been targeted for development.

Apple’s new campus is expected to create up to 3,600 jobs over the next 10 years, and has already received a $21 million backing from the Texas Enterprise Fund (TEF) and $8.6 million in tax cuts from the City of Austin. The new campus will be located in northwest Austin, near an existing Apple customer support center, and will be home to 200,000- and 800,000-square-feet offices respectively. Travis County officials will continue to negotiate with Apple behind closed doors, and is expected to revisit the incentive deal on April 17.

[The Statesman via AppleInsider]

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