We reported earlier this month that Apple was waiting on city officials from Austin, Texas to decide whether to offer the company an $8.6 million incentive over 10 years as part of Apple’s proposal to invest $304 million in a new campus. The Texas Enterprise Fund is already kicking in $21 million over 10 years as part of the deal, and last night the City Council unanimously approved the $8.6 million in incentives. According to a report from KXAN, this will initiate “the negotiation and execution of an Economic Development Agreement with APPLE INC,” but Travis County officials are still weighing the decision to offer Apple an additional $6 million in real estate related incentives… expand full story
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Earlier this month, we told you Gov. Rick Perry announced plans to double the size of Apple’s workforce in Austin, Texas with an investment of $304 million that would add up to 3,600 jobs. Apple will receive $21 million in incentives over 10 years through the Texas Enterprise Fund as part of the deal. According several reports from KVUE News and Austin news website Statesman, Apple representatives met with Austin City Council officials today for a formal proposal.
The plan would see Apple building up to 1 million square feet of new office space taking up approximately 38 acres at West Parmer Lane and Delcour Drive. As we reported before, the new jobs would mostly be administrative positions. As part of the deal, we also learned that City Council would offer Apple an extra $8.6 million over the 10-year period, but Apple is still apparently waiting for the City of Austin to come to a decision on whether to offer an incentive.