North Carolina Senate OKs multimillion-dollar tax break for Apple; final vote Monday

“The N.C. Senate sweetened the recipe for Apple on Thursday,” Mark Johnson reports for The News & Observer.

“Senators gave preliminary approval to a multimillion-dollar tax break for Apple Computer in hopes of luring a new data center the company plans to build. The bill, approved 42-6, serves up $3 million in annual tax breaks that could grow to $12.5 million a year if the company locates its new operation in North Carolina,” Johnson reports.

“In exchange, the computer company is expected to invest $1 billion over nine years,” Johnson reports. “The Senate is scheduled to hold a final vote on the legislation Monday evening, and Gov. Beverly Perdue is expected to sign the bill if it passes, according to her press secretary, Chrissy Pearson.”

Johnson reports, “The data center would be a warehouse of computer servers likely supporting Apple’s popular iTunes music store and other services.”

Full article here.

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