“Apple is known for its bold innovation and game-changing designs, and the expansion of their Austin facility adds to the growing list of visionary high-tech companies that have found that Texas’ economic climate is a perfect fit for their future, thanks to our low taxes, reasonable and predictable regulations, fair legal system and skilled workforce,” Gov. Perry said in a statement. “Investments like this further Texas’ potential to become the nation’s next high-tech hub.”
The project is supported by an investment from the TEF, which offers companies incentives to invest in Texas. When completed, it will be one of the largest job creation projects in TEF history, and one of the largest capital investments by a TEF recipient. The agreement is contingent upon the finalization of contracts and a local incentive agreement with the City of Austin and Travis County.
The Legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007, 2009 and 2011 to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state’s most competitive tools to recruit and bolster business. To date, the TEF has invested more than $443.4 million and closed the deal on projects generating more than 62,000 new jobs and more than $15.4 billion in capital investment in the state.
Beleaguered Dell to close Austin PC plant, cut thousands of jobs in cost-cutting effort – March 31, 2008
Apple plans new 80,000 square foot building in Austin, Texas campus expansion – July 18, 2007