“For Apple Inc. to receive up to $7.4 million in incentives from Travis County, the technology giant must promise to hire a percentage of “economically disadvantaged” local residents, county officials said Tuesday,” Farzad Mashhood reports for The American-Statesman.
“Travis County is considering giving Apple an 80 percent rebate on its tax bill for 10 years — up to $7.4 million with a potential five-year extension — if the company locates a facility here that could create up to 3,600 jobs,” Mashhood reports. “The county’s proposal is the smallest of three government-backed subsidies being offered to Apple. The City of Austin approved $8.6 million in tax breaks for the company, while the state-run Texas Enterprise Fund has proposed a $21 million incentive package.”
Mashhood reports, “Apple’s project would be built in two phases in Northwest Austin, near its current customer support center, first with a $56.5 million, 200,000-square-foot office, then a $226 million office up to 800,000 square feet. The 3,600 jobs are expected to be filled over the course of 10 years, with county officials saying the average salary for those jobs would range from $54,000 to $73,500.”
Read more in the full article here.
[Thanks to MacDailyNews Readers “Judge Bork” and “Lynn Weiler” for the heads up.]
Austin city council unanimously approves $8.6 million dollars in incentives for Apple Inc. – March 23, 2012
Texas Governor Rick Perry announces Apple to invest $304 million, create 3,600 new jobs in Austin – March 9, 2012