Apple buys 3 parcels of land in Austin, Texas for campus expansion

“Apple Inc. is one step closer to making good on its plans to bring 3,600 new jobs and invest more than $300 million in Austin,” Jan Buchholz reports for The Austin Business Journal.

“Records at the Travis County Clerk’s Office show that McShane Development Co. LLC, through its Riata Vista LP entity, sold three tracts of land to Apple on June 21. The exhibits indicate that the land is in the Milwood Section 20 subdivision near Parmer Lane and Delcour Drive,” Buchholz reports. “It’s unknown how much Apple paid for the land or how many acres it bought, but officials at two real estate brokerages, which did not want to be identified, confirmed that the long awaited deal had closed.”

Buchholz reports, “The Austin Business Journal previously reported that Apple planned to expand its current campus in Northwest Austin by 1 million square feet on 38.8 acres of land… Apple has secured about $37 million in incentives from local and state governments.”

Read more in the full article here.

[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]

Related articles:
Travis County approves tax incentives for Apple’s Austin campus expansion – May 2, 2012
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

14 Comments

  1. For the same price, Apple could have bought significant acreage in the cities of Buffalo, Cleveland, Detroit, or Pittsburgh, or even Sacramento. These cities have declined in population as much as 50% in the last half century primarily because of Wall Street’s short-termed demands to abandon domestic infrastructure rather than keep investing in the USA.

    Strange choice for Apple to not remain co-located (to maximize operational efficiency) or maximize its investment (buy in a first-class city that has depressed real estate available), but rather to set up shop in Dell-Land.

    1. UT-A is a decent university, no doubt. But so are most schools in CA, or any “Big 10” university, not to mention the pricey northeastern schools. Though employers will always whine about the reality that some training of employees is necessary, the USA has the best educated workforce it has ever had at any point in history, and not all of them are stacked on the coasts.

      And no industry abandons its manufacturing facilities unless the beancounters are incentivized to offshore work in search of quick profits.

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