Apple could receive $7.4 million in tax breaks to build new Texas campus

By , Apr 6, 2012

AppleInsider passes on a report from an Austin news outlet that Apple could receive tax rebates worth $7.4 million over the next 10 years if it goes ahead with plans to build a new campus in Northwest Austin.

Combine this with the nearly $30 million in tax breaks and incentives it is already set to receive, and Apple has a lot of reasons to want to start building its new offices as soon as possible…

But the city of Austin also stands to benefit from the construction. The new campus is expected to double Apple’s work force in the area, creating some 3,600 jobs. The report notes that the terms of the tax deal call for Apple to hire a number of local workers.

The move should appease at least some critics, who believe that Apple isn’t doing enough to create jobs in the US. The company has been under heavy fire recently for refusing to bring any part of its enormous supply chain operations to America.

As far as the campus, the two-phase buildout will consist of a 200,000 square-foot office, and a second nearly four times that size. Construction costs for the two buildings is estimated to be close to $300 million dollars, and could begin as early as this summer.

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  • http://twitter.com/MohamedHassabo1 Mohamed Hassabo

    Look at stocks in notification center,
    Apple beat Google by 1 as i speak.