Apple today published a report on its website detailing the “Economic and Fiscal Impacts Generated by Apple in Cupertino – Current Facilities and Apple Campus 2.”
Apple notes that the report, which details a number of topics from job creation to construction of its new spaceship campus, was put together by Keyser Marston Associates, Inc. (KMA) for the City of Cupertino under contract with Apple Inc.
With net annual sales in excess of $156 billion, 16,000 employees currently based in the Cupertino area, and annual purchases from local Silicon Valley-based businesses of $4.6 billion, Apple is a cornerstone of the Silicon Valley economy and of the fiscal resources of the City of Cupertino.
Much of the report focuses on the economic impacts and future contributions of Apple’s currently under construction Apple Campus 2. In the report, Apple details how its new campus will “add an estimated 7,400 new high-quality jobs,” increase revenues for the local economy, and enhance tax revenues for the city and surrounding areas. Apple says it will support 24,000 jobs in Cupertino alone when the campus is ready in 2016.
It also detailed investments being made in public improvements surrounding its new campus including infrastructure and utility improvements and its transportation program:
As part of Apple Campus 2, Apple will also fund over $66 million of public improvements to be built around the campus and in the City of Cupertino, as well as other community benefits. These include $50.2 million of roadway, traffic, intersection, landscape and utility improvements, $10 million of bicycle and pedestrian facilities, $3.7 million in park land, and a $2.5 million dollar contribution for affordable housing.7 In addition to these one-time capital investments, Apple will annually spend approximately $35 million on a transportation demand management program, to implement the company’s alternative commute program.
Here are the main points Apple tackles in the 30+ page report:
- The on-going economic impact and benefits of Apple to the City of Cupertino;
- The ongoing economic impacts and benefits to the City of Santa Clara, City of
- Sunnyvale, and the broader region of Santa Clara County;
- Apple’s recurring annual fiscal impacts on the City of Cupertino;
- The construction-related impacts of Apple Campus 2 on Santa Clara County; and
- The construction-related tax and fee revenues to be received by the City of Cupertino
- and other local public agencies from the construction of Apple Campus 2