Incentive

Last time we checked Apple’s plans to bring 3,600 jobs to Austin, Texas with a $304 million investment and the construction of a new campus, the company received approval on the last of several major incentives from city officials. The approval officially initiated an Economic Development Agreement between Apple and the city, but the project was still not 100 percent confirmed.

Reports originally said Apple would build the new campus on 38 acres at West Parmer Lane and Delcour Drive, and today’s report from AustinBusinessJournal confirmed Apple recently purchased land near the address:

Records at the Travis County Clerk’s Office show that McShane Development Co. LLC, through its Riata Vista LP entity, sold three tracts of land to Apple on June 20. The exhibits indicate that the land is in the Milwood Section 20 subdivision near Parmer Lane and Delcour Drive.

The report did not offer any information about how much Apple paid for the land, but the purchase is a good indication Apple is going ahead with its new Austin campus. According to AustinBusinessJournal, McShane CEO James McShane released a press release yesterday on its new vice president who helped make the deal with Apple:

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Update: A report from KVUE is claiming Travis County Commissioners approved the revised incentive deal at this afternoon’s meeting:

The last piece in the puzzle to one company’s effort to expand in Austin fell into place Tuesday afternoon… Travis County Commissioners approved an incentive deal for Apple on Tuesday. The deal has been on the table for a while.

The last time we reported on Apple’s ongoing negotiations with Austin officials to build a $304 million campus and bring over 3,600 new jobs to the city, reports claimed Apple was growing frustrated with delays in approving incentives from local Travis County. Travis would provide Apple with roughly $6.4 million of the total $36 million in incentives included in the deal, but the vote to approve the incentive was delayed due to “weak points” in the contract. According to a new report from Statesman, the Commissioners Court could approve a revised version of the incentive. However, the new deal would impose strict hiring guidelines on Apple:

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The last we heard, Apple’s plan to build a new $304 million campus and add up to 3,600 new jobs in Austin, Texas was all but a done deal with city officials last month after they approved an $8.6 million incentive to be handed out over 10 years. At the time, Apple was still waiting on additional incentives from Travis County officials, but today local reports from Statesman claimed Apple is growing frustrated with delays. Senior Vice President for Economic Development at the Greater Austin Chamber of Commerce Dave Porter said Apple’s deal to move into Austin is “in peril”:

“This deal is not done. It remains in peril. And Apple is frustrated… We were disappointed (the deal) wasn’t finalized this past Tuesday, but we were hopeful this next Tuesday that Apple and the county can complete the negotiation process and have that behind us… We remain hopeful that will take place and there will be a positive vote on Tuesday.”

In total, Apple would receive roughly $36 million over 10 to 15 years as part of the deal. Approximately $6.4 million is supposed to come from Travis County. The report explained the reasons behind the County delaying approval of the incentive:

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