City officials in Austin, Texas, have agreed to pay Apple $8.6 million in incentives over the next ten years after the Cupertino company revealed its plans to invest $304 million in a new campus. Additionally, it will also receive $21 million from the Texas Enterprise Fund, and possibly a further $6 million from Travis County Commissioners.
KXAN reports that the Austin City Council “unanimously” approved the $8.6 million in economic incentives last night, allowing Apple to expand its presence in the city over the next decade. It currently operates a campus in Northwest Austin with around 3,100 workers, but it wants a new campus for an additional 3,600 employees.
All the company must do now is confirm its plans and accept the money.
Apple will also receive $21 million from the Texas Enterprise fund, according to the report, and another $6 million could come from Travis County Commissioners. In total, the company stands to receive $36.5 million.
But with $100 billion in cash in the bank, that sum has come under fire from some citizens. “If they can do it on their own without receiving that assistance, I’m all for it,” mayoral candidate Clay Dafoe told the council before the 6-0 vote was cast. “I don’t think, though, that this resolution brings equity to our taxpayers here in Austin.”
“There’s absolutely no reason for Austin, a city with a myriad of budgetary issues to even consider handing out money to any private corporation,” another speaker said.
If Apple chooses to go ahead with the plan, construction will begin later this year, according to 9to5Mac, which reports the new building will consume 38 acres of land at West Parmer Lane and Delcour Drive.
Killian Bell is a freelance writer based in the U.K. He has an interest in all things tech and also covers Android over at CultofAndroid.com. You can follow him on Twitter via @killianbell.
6 responses to “Austin City Council Throws Apple $8.6 Million For New Campus”
They just tossed it at Apple. Austin was like, “hey apple, catch this 8.6 million!” “Oh thanks, Austin, good throw”
This is dumb. Apple is $100 billion dollars and the city is giving them money? Come one seriously…if I lived in Austin, TX I’d be up in arms over this. Apple doesn’t need Austin’s money. How embarrassing. Apple should give it all back and maybe more.
8.6 Million is a small price to pay for the years of tax dollars and jobs it will bring…an incredibly small price.
Did you guys miss this part? “Cupertino company revealed its plans to invest $304 million in a new campus”. I think “$8.6 million in incentives over the next ten years” is a great investment if you plan on receiving $304 million creating jobs and more revenue
I live in Austin and I think it is a good thing as it is going to bring many jobs to the area and when Apple builds it will bring other companies and help the economy . You have to spend some money to make some money! Plus Austin really wants Apple to pick the city as their place to build!
They are picking up ” an additional 3,600 employees.” That is 3,600 people that will buy homes and pay taxes. It is like you paying $5 right now to receive $100 for the next 20 years. Everybody wins.