toggle

AAPL Stock: 100.58 ( + 0.01 )

Printed from http://www.macnn.com

Apple answers Austin City Council questions to win funding

updated 04:30 pm EDT, Thu March 15, 2012

New campus could take city, county, state money

An Apple official today answered questions in front of Austin City Council in an attempt to secure funding for its expanded presence in the city. The Council is offering to pay $8.6 million in incentives over 10 years if Apple meets job and investment targets. Apple may also receive $21 million from the state-level Texas Enterprise Fund, and still more cash from Travis County, although county officials are believed to be waiting until after a City Council vote to say what it might contribute.

Apple has proposed spending $304 million on its expansion, which could create 3,600 new jobs and an Americas Operations Center, which would be located at the corner of West Parmer and Delcour in the northwest. The new campus would consume 38 acres and house 1 million square feet of office space. Dave Porter, the senior VP for economic development at the Austin Chamber of Commerce, today told City Council that Apple's offer was a "huge" deal. "We consider it to be one of the deals of the decade," he commented.

At the same time, Porter warned the Council that Apple hadn't formally decided on Austin and had another city under consideration as well. The Austin American-Statesman suggests that the alternative may be Phoenix, and reports that Apple may only decide after final incentives are offered by city, county, and state.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. what-a-day

    Joined: Dec 1969

    -1

    Waste of taxpayer money

    The most valuable company in the world with to much cash on hand. TAXPAYERS to pay for them to come to town. That just is not right. How many full time workers does Apple have in the North Carolina now it is completed? Town didn't get what they thought they were getting.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Life n Soul 8 Driver Bluetooth headphones

When it comes to music on the go, consumers generally have some options to consider when looking for the best experience. While Blueto ...

Pure Jongo T2 wireless speaker

Multi-room audio compatibility is a key metric for wireless sound systems these days. The entry cost into a house-spanning system can ...

Logitech Z213 multimedia speakers

Desktop computer speakers sit in a weird area of limbo: many consumers have forgone the era of desktop listening for the privacy and v ...

toggle

Most Commented