Business growth
Taking a bite out of Austin: Apple announces 3,600 new jobs coming
Apple is making a huge commitment to Austin.
Gov. Rick Perry revealed Friday that Apple will build a brand new, $304 million campus in the state's capital.
The investment will create more than 3,600 new jobs in customer support, sales and accounting. Austin is already home to an Apple customer call center, and Reuters reported in December that the A5 processor that powers the iPhone 4S and iPad 2 is now manufactured in Samsung Electronics' Austin plant.
"Apple is known for its bold innovation and game-changing designs, and the expansion of their Austin facility adds to the growing list of visionary high-tech companies that have found that Texas' economic climate is a perfect fit for their future, thanks to our low taxes, reasonable and predictable regulations, fair legal system and skilled workforce," Perry said in a statement.
A significant monetary incentive probably didn't hurt, either. The state has offered Apple a 10-year, $21 million cash grant through the Texas Enterprise Fund, a program created by the Texas Legislature in 2003 to invest in job- and capital-creating projects. One requirement for TEF eligibility is competition with another state for the project.
Apple Insider reports that the "deal hinges on finalized contracts, as well as a local incentive agreement that must be approved by the city of Austin, and Travis County."