Wednesday, May 2, 2012

Apple Gains Tax Incentives in Texas

Story first appeared on

Apple’s major expansion in Austin, Texas, is a step closer to reality now that Travis Country has approved an incentive package that will help the iPhone and Mac maker bring 3,600 new jobs to the city. The approval came Tuesday night with only one of the five Commissioners voting against the deal.

The dissenting vote came from the Commissioner who said she had hoped Apple would’ve been required to promise more in exchange for the incentives, according to the Austin Business Journal.

Apple now stands to get between US$5.4 million and $6.4 million in tax rebates from the county, for a combined $35 million in incentives over ten years from city, county and state. In exchange, Apple will double its workforce in Austin and invest $282.5 million locally in the process.

The county’s approval comes as good news for the Austin job market, especially since the county was the only holdout on approving the incentives package. Had the Commissioners voted against the deal, the state and city would’t be able to follow through on their offers and Apple would’ve likely taken its new jobs elsewhere.

With Travis County’s approval in place, however, Apple can now move forward to the next phase in its expansion plans.

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