“The economic development authority board awarded $19.65 million in investment tax credits to Apple at a specially called meeting Thursday morning. State documents say that total is ‘negotiated as the amount of sales tax refund.’ The appointed board unanimously approved the incentives,” Hardy and Norvell report. “State incentives require matches from local governments. For its part, the Waukee City Council approved a 71 percent property tax abatement over 20 years for Apple ― an incentive worth $188,239,943 state records show. The city is expected to also fund ‘significant’ infrastructure improvements for Apple’s project, though state officials said those costs are ‘to be determined.'”
Apple joins Facebook, Google and Microsoft as the latest tech giant to build roots in Iowa. Those companies have cited Iowa’s large inventory of available land, low energy costs, high portfolio of renewable energy and low risk of natural disasters as reasons for locating here,” Hardy and Norvell report. “The incentive package from the economic development authority falls in line with previous awards for Iowa data centers…”
Read more in the full article here.
MacDailyNews Take: Congratulations, Iowa and Waukee!
UPDATE: 3:59pm EDT:
Apple’s ‘Project Morgan’ revealed – August 24, 2017
Apple to build data center in Iowa – August 23, 2017
Apple to build second renewables-powered data center in Denmark – July 10, 2017
Apple’s huge data center in Ireland hits a snag – February 3, 2016
Some residents object to Apple’s planned new €850 million data center in Ireland – June 18, 2015
Apple’s strong commitment to the environment sets a powerful example for other companies – May 15, 2015
Apple to invest €1.7 billion to build two new european data centers – February 23, 2015