Apple dropping $1 Billion over 10 years on the Tar Heel State…

The rumors have been swirling for weeks, but as per the Governor’s words, it is official.  Gov. Beverly Perdue signed the incentives bill targeting Apple into law today.

"North Carolina continues to be a prime location for growing and expanding global technology companies," Perdue said in a news release. "We welcome Apple to North Carolina and look forward to working with the company as it begins providing a significant economic boost to local communities and the state."

The data center will only employ 50+ people full-time as the billion-dollar investment is made over nine years and includes mostly non-wage costs.

The tax break could be worth about $46 million in the next decade, according to a memo by legislative fiscal staffers. Apple could, however, save more than $300 million on its corporate taxes if the server farm is in place for 30 years, based on the memo.

Google Inc. opened a similar data center last year near Lenoir in the western North Carolina foothills. In 2007, state and local governments offered Google an incentives package worth up to $260 million over 30 years, one of the largest in state history, to land the $600 million data complex.

 

About the Author