“Thursday night Austin city council unanimously approved $8.6 million dollars in incentives to help Apple double its Austin offices,” Morgan Chesky reports for KVUE News.
“Between the City of Austin, Travis County, and money from a state fund, Apple could get as much as $35 million in incentives,” Chesky reports. “Travis County will now decide whether to provide $6 million dollars to the company.”
Chesky reports, “City leaders said the chance at 3,600 jobs was too big to pass up… If Apple makes the move, it would make them the second largest private employer in Austin right behind Dell.”
Read more in the full article here.
MacDailyNews Take: Smart move, Austin city council.
“We’re coming after you, you’re in our sights.” – Apple Interim CEO Steve Jobs, speaking in front of an image of Michael Dell’s bulls-eye covered face, November 10, 1997
We can hardly wait until Apple Inc. becomes Austin’s largest private employer.
Related articles:
Texas Governor Rick Perry announces Apple to invest $304 million, create 3,600 new jobs in Austin – March 9, 2012
Apple now worth eighteen times Dell’s market value – March 19, 2012
Apple now worth seventeen times Dell’s market value – March 12, 2012
Apple now worth sixeen times Dell’s market value – February 29, 2012
Apple now worth fifteen times Dell’s market value – February 15, 2012
Apple now worth fourteen times Dell’s market value – September 20, 2011
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Apple now worth twelve times Dell’s market value – January 27, 2011
Apple now worth eleven times Dell’s market value – September 23, 2010
Apple now worth ten times Dell’s market value – September 09, 2010
Apple now worth nine times Dell’s market value – June 01, 2010
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Apple now worth seven times Dell’s market value – January 26, 2010
Apple now worth sextuple Dell’s market value – October 20, 2009
Apple now worth quintuple Dell’s market value – February 12, 2009
Apple could buy Dell outright; Mac-maker has more cash on hand than Dell is worth – October 21, 2008
Apple now worth quadruple Dell’s market value – May 01, 2008
Apple now worth triple Dell’s market value – December 06, 2007
Apple now worth double Dell’s market value – July 27, 2007
Beleaguered Dell: Shut it down and give the money back to the shareholders – March 02, 2007
Biting words on Apple come back to haunt Dell – February 10, 2007
Steve Jobs emails Apple team: Michael Dell not the best prognosticator, Apple worth more than Dell – January 16, 2006
Apple now worth more than Dell – January 13, 2006
This is a no-brainer. You’d think every large city in the country would be waving incentives in front of Apple to get them to come there. I don’t know where in the salary spectrum these specific jobs fall (isn’t mentioned in the article), but with an average salary of $64,000, there is simply no question (/rimshot) that these jobs have the potential to pay back that $35 million several times over in spending and additions to the tax (property tax paid by employees, sales tax on the stuff they buy, etc.) base.
The investment that more than pays for itself! Unlike Lib-Row-Tardism!!!!!
Please explain to me what is gained by taking a topic that is totally non-partisan and injecting a vague jab at one end of the political spectrum? I don’t mind the MDN posts that beg partisan tirades, because I can choose to not read them, but it’s getting really tiresome to have some assclown jump on the reply of the first comment just to shout something asinine intended to turn comments into a political flame war.
Please. Shut. The. Fuck. Up.
Austin (TEXAS) Government promoting jobs.
Maobama and Democrats destroying jobs.
It has everything to do with politics and showing what works, TEXAS.
And what doesn’t, Maobama and Comrades!
http://www.youtube.com/watch_popup?v=-_cdbByTeNE
“Richard Pryor As Obama…32 Years Ago”
Great video. Richard Pryor is a scream!
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So you STFU, Commie!
If only MDN allowed mods. Too bad.
You are a lemming, censoring, typical Democrat. Read your post and think long and hard about it. Pathetic.
TheMacAdvocate = NEW-CASTRATTI
If you read my post below, you’d see that I actually support tax incentives for businesses and always have.
But that would require some additional effort on your part. Screaming LIBTARD!! strikes me as much easier to do. Rage on, anonymous asshat, rage on.
Admit it, you are a LibTARD, right!
ooooooo, asshat, huh huh huh, good one. you really got him dude. huh huh huh huh.
WAAAAAAAAAAAAAAAAA. Conservatives are so mean. They always tell the truth!
Hey MacAvoDick,
Is that a Hail Hitler avatar you’ve got going there?
I almost think you guys are liberal plants. I can think of no better way to devalue conservative arguments than the comments I’m reading. Well-played, guys.
Yes liberals always try to make laws that trample on the first amendment.
Conservatives like to make laws that help business thrive, resulting in low unemployment, more tax revenue, innovation, and a much higher standard of living. Something LIB-ROW-TARDS just can’t comprehend.
Good work Austin!
Actually, conservatives like to make laws that interfere with people’s private personal lives, for example, all the anti-abortion measures, forcing women to get ultrasounds, anti-gay garbage, continuing this idiotic war on drugs (though plenty of democrats do that as well), forcing religious nonsense on others, anti-science, never pass up a chance for more war, all measures that are extremely intrusive, expensive, a waste of money and time, and yet not understand the contradiction in calling themselves proponents of small government. And of course, people screaming “libtard” aren’t exactly famous for understanding any issues or making valid points.
NO ron,
You hav it backwards. Democrats are the ones trying to burn the constitution. The constitution is like sun light to a Vampire to you CRETINS!
Ron is a baby killer. He enjoys promoting that racist, Margaret Sanger, who created Planned Parenthood to extinguish minorities. Good one Ron you Hater!!!!
No one is forcing religion on anyone, dip shit. LIb-Row-Tards are forcing their religion of hate and misery on us all though.
Why does Apple need — or even deserve — $10 million in taxpayer-provided subsidies?? This is crony capitalism at its worst.
It’s the same argument against subsidies for oil companies. Why do the most profitable companies on the planet need OUR money to make more money?
Please explain this to me — without falling back on “everyone else does it.”
Because Apple is run by commies, and commies can’t walk by a government handout without shaking hands with it.
So, when the car dealer offers you an incentive to buy the car right now from them instead of another dealer, you say “No thanks, I’ll just pay the sticker price!”?
No?
Commie.
Following your line of “logic,” BLN. What do you call the state and local governments that provide those handouts? Please enlighten me.
After you work through that step, please reconcile your previous rationale with the fact that Texas is a solidly Republican state and Governor and would-be President Perry has been in charge since Bush left. I believe that the Texas incentive fund was even championed by Perry.
King Hell,
You call them aholes and pack up and move to a new state. The Federal Government is not supposed to have those types of powers under the constitution but you LIB-ROW-TARDS want to force everyone throughout this great nation to wallow in your disgusting hell!!!!!!!!! No Thank YOU!
Actually, oil companies don’t get any special subsidies, they merely take advantage of the same tax code all businesses do. The left simply ‘spins’ their tax deductions as ‘subsidies’.
In fact, all tax deductions are subsidies. Even yours and mine.
Oil companies and the American consumer get raped left and right in Government taxes. Most of the price of gas is TAX!!!!!!
It’s to help cut the draconian red tape.
Now if you wanted to run a mom-and-pop grocery store, you get Vito assigned to your case to insure all regulations and charges are paid, regardless of what he finds…
You can say that again times infinity! Red tape, fees, fines, blockades to doing business. Welcome to the LibSocialCommie’s wet dream.
Who are these LibSocialCommies you and other here are talking about? Nearly everyone I know votes for democrats, but not a single one of us can in any way be considered either socialists or communists. We all understand the value and need to make money honestly (in fact, several people I know own their own businesses). I’m sick of crap like this from people who don’t even know the meaning of the words they spout.
I am a proud business owner and voting Democrat is pure, chaotic, suicide for the US.
The Democrats are in a litany of examples of trying to censor their opposition, which is massive. I would figure that if you were in the vast minority of the voting population as the Democrats are, that you would have to resort to dishonest measures to to try to keep your opponents at bay.
I was never one for cheating in a fight tough…… So this tactic of cheating by Democrats does not come off well on the American populace.
You need to change your circle of “friends”, fast Ron, FAST!
Its notso much that they need it, but that Austin wants them. If you are going to open up shop, all other things being equal, are you going to go where you are getting discounts/incentives/tax breaks for a period of time, or where you are paying full price? The big companies get these kind of breaks, not because they need it, but because they provide the most jobs, and make a particular even more attractive to other businesses as well. Its generally a win-win situation for the the wooed company as well as the wooing city.
+1
Because Corporations should not be considered individuals, not be taxed as such in the first place. Businesses don’t pay taxes anyways, since they ALWAYS pass on that cost to the consumer. Therefore, only the government is the coat-tail rider here. They tax the business. They tax the supply line. They tax the employees. They tax the investors. They tax the transfer of goods to the consumer. Believe me, they should be feeling guilty for the billions they acquire for doing absolutely nothing. Then they Justify their legalized theft by giving a portion to individuals who are doing nothing. The house of cards is going to fall unless smart moves to take less and allow industrious individuals some incentive to prosper are not taken soon.
Apple deserves this (and more, actually) because they are bringing in good-paying, stable, long-lasting jobs to the Austin community.
These employees will pay income taxes, property taxes, sales taxes. They will shop at local businesses and use local plumbers, electricians, carpenters, etc., creating jobs for people who work at those stores and who provide those services.
This is the problem with you Libs, you do not understand how things work in the real world. Looking at everything through some warped fantasy lens is a waste of everyone’s time.
The benefits Apple will bring to Austin far, far, far outweigh whatever incentives are provided.
Smart states and communities attract and land strong businesses and everyone prospers from it.
Stupid states and communities are run by people like “Mike.”
Clearly you don’t understand what “crony capitalism” is, because this isn’t it. Apple can site its facilities anywhere it chooses, and it makes its decision based on a variety of factors: the availability of a skilled labor force, the quality of its schools (where its employees will be sending their kids), the cost of living, local tax rates, cost of land, energy costs, etc. So any locality that wants a business that will help them grow will work to make their selection attractive.
That’s quite different from “crony capitalism” and its closely related “pay to play” and “spoils system”. When the government throws contracts and “stimulus” money to their friends and political supporters – as this Administration does even more egregiously than its predecessors – *that* is crony capitalism made real.
Apple doesn’t need it, but cities, counties and States offer them. Should Apple turn them down?
For example, Dell got $234,000,000 in tax credits in Greensboro, NC back in 2007 or so for opening a factory there, for about 2000 jobs. That factory has already closed over a year ago. I hope they had a clawback provision.
So Apple is adding 50% more jobs for 1/30th incentive. They could clearly have gotten much more if they had shopped the project like Dell did.
If a city or State gives incentives to a new work place employing thousands of employees, every business in that city or State stands to make increased revenue from all of the newly employed.
With increased revenues almost across the board, the city or state wins back the incentives,in no time, through taxation.
As for subsidies for oil companies, oil and gas are world wide or continent wide commodities. If an oil company can get more bang for their exploration buck by searching in America instead of the North Sea or the South China sea, then the money is spent in America. If it takes a small percent royalty incentive to keep the money in America, it’s a good, not a bad thing.
Companies owe it to their shareholders to get the best bang for the buck. If that upsets you, buy some stock and join the capitalists.
It’ll make you feel better.
It’s so pathetically simple, but LIB-ROW-TARDS just can’t wrap their tiny-LEMMING brains around the facts. Burn tax money on welfare or invest it in things that bring prosperity to all.
Not very hard to figure out what to do…..
It’s like offering a volume discount for good customers. You take the amount of the incentive, then compare it to the spending and tax income such an incentive will create. The economic impacts of direct, secondary and tertiary spending are actually pretty straightforward. It’s just that not all civic leaders understand it.
Or as Nancy Pelosi put it,”Raising taxes creates jobs”. NOT!
I thought it was unemployment benefits?
Maybe it was the taxes paid on unemployment?
That would make cents….
“We have to pass Maobama-SCARE to find out what’s in it”!!
Words of wisdom from lunatic Pelosi!
All of us Austin residents that don’t have $100B in bank will get to pay for this through our taxes.
No, The Austin residents will wind up with all kinds of jobs and an even more vibrant economy since this tax money is being spent very wisely. Unlike the rest that gets flushed down the toilet daily. But a Marxist like you doesn’t want to understand those FACTS!!!!!