[News] Austin Approves $8.6 Million Incentive for Apple Expansion
Austin Approves $8.6 Million Incentive for Apple Expansion
The Austin City Council has approved an economic incentive of $8.6 million if Apple expands its presence in the city,reports KXAN.
Apple has operated out of a Northwest Austin campus for two decades with about 3,100 workers, but now it wants to build a new facility in the same area to add more than 3,600 other positions. As Apple considers other locations in the nation like Phoenix, the idea of economic incentives have materialized in recent weeks. The state would give $21 million from the Texas Enterprise Fund, Travis County is considering $6 million in real estate abatements, and the City of Austin would give $8.6 million in tax abatements.
The decision made by Austin City Council was unanimous and now Apple must make the decision to take the incentive and proceed with the $280 million project.
(via iclarified)
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