Apple’s plan for a $304 million campus expansion in Austin, Texas, are becoming a reality as the company recently purchased three tracts of land. The purchase was first noted by Austin Business Journal, which discovered that the deal was finalized on June 20. The exact acreage and price is unknown, however. Apple made the deal with McShane Development Co. and acquired three tracts of land in the Milwood Section subdivision near Parmer Lane and Delcour Drive.
The land bought by Apple is adjacent to the company’s current campus in Austin, located at 12545 Riata Vista Circle. With the $305 million expansion plan, Apple is expecting to create 3600 new jobs, doubling its current workforce size in Texas.
Apple’s primary functions in the region include customer support, sales, and accounting. In return for the new jobs and economic stimulus, the State of Texas is planning to give Apple $21 million over ten years through the Texas Enterprise Fund.
The city of Austin has also agreed to an $8.6 million grant for Apple to expand its offices, while Travis County granted $5.4 million in tax rebates in exchange for minimum salary requirements. As such, Apple has promised an average salary of $35,000 for the bottom 10 percent of its own employees and a minimum of $11/hour for contractors.
Most of Apple’s money will be invested into a $226 million 800,000-square-foot office that is located in North Austin, where Apple will have a total of 3,665 new jobs created by 2025.
Source: Austin Business Journal via The Next Web
Image Credit: Cleveland
