UPDATE: Williamson County approves Apple Incentive Package

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Update: Williamson County commissioners have approved a new incentive deal for Apple, which includes a 65{facfe2172b04f299937824a9c1283369198151460b73c952acd056710c9bd5ea} reimbursement of property taxes to the tech giant over 15 years.  That could add up to about $16 million dollars. The Austin Chamber of Commerce has praised the deal.  Apple will be investing up to $1-billion into land in North Austin and is expected to create up to 15,000 new jobs.


The Williamson County Commissioners Court will vote on Tuesday for an incentive deal with Apple, which announced last week it was investing $1-billion into a 133-acre campus in North Austin.  

If approved, Apple will be reimbursed 65{facfe2172b04f299937824a9c1283369198151460b73c952acd056710c9bd5ea} of property taxes over 15 years.  In order to get that deal, Apple first has to spend $400-million on land and development.  Then, after the first full taxing year in which Apple has created 700 new full-time jobs, the deal will kick in.  Apple will also have to create 600 new jobs every two years between years two and ten, and then another 300 jobs by year 12.

If Apple fails to meet those obligations, Williamson County can nullify the incentive deal.

Apple has said as may as 15,000 new jobs may be created in the coming years.

The City of Austin is not offering any incentives for the tech giant.

(Credit: Apple)

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