“As Amazon closes in on the location for its second campus, currently codenamed HQ2, is Apple planning its own search for Apple HQ2?,” Don Reisinger writes for Fortune. ” The tech giant on Wednesday announced plans to invest billions of dollars in the U.S. as part of a broader effort to repatriate nearly a quarter-trillion dollars in overseas cash to the U.S. Apple also said that it will create 20,000 new jobs over the next five years… ‘The company plans to establish an Apple campus in a new location, which will initially house technical support for customers,’ Apple said in the statement. ‘The location of this new facility will be announced later in the year.'”
“The move is all the more relevant in light of Amazon soliciting bids from North American municipalities to locate its second headquarters, Amazon HQ2,” Reisinger writes. “Nearly 240 cities offered bids for Amazon’s HQ2, but the company on Thursday announced that it had narrowed the list to 20 metropolitan areas, including Atlanta, New York City, and Miami. All of the cities that bid for Amazon’s HQ2 offered an array of tax breaks, perks, and other special offers to lure Amazon’s HQ2.”
“Now, though, it’s Apple’s turn. But exactly how Apple will go about choosing its next campus location is unknown,” Reisinger writes. “Still, Apple’s timing is impeccable. If the company hasn’t already chosen a location for a second campus, it now knows what some of the cities that bid for Amazon’s campus were willing to offer.”
Read more in the full article here.
MacDailyNews Take: Of course, there are many benefits to whichever locale lands an Apple campus, including increased economic activity to myriad area businesses (vehicles, housing, restaurants, groceries, utilities, etc.), local taxes (sales, income, property, etc.), increased real estate values, and much more.
As we wondered yesterday: So, where will Apple’s new campus be? With their HQ on the west coast and the other campus centrally located, it makes sense to establish one the east coast. North Carolina, perhaps? Or maybe Florida (no state personal income tax) to roughly follow SeaWorld’s locations?
Apple to build new U.S. campus, pay record $38 billion repatriation tax – January 18, 2018
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Looks like Apple is bringing nearly all of its $250 billion foreign cash back home to America – January 17, 2018
Apple plans to add $350 billion to U.S. economy and create over 20,000 new jobs over next 5 years, pay $38 billion in repatriated taxes, the largest ever made – January 17, 2018
Apple expected to issue less debt in 2018 now that President Trump has signed the Tax Cuts and Jobs Act – January 16, 2018