Apple Announces Big News for Austin Job Market
published on March 13, 2012
Austin may be vying for the title, “Big Apple,” as Apple Inc. has announced plans to build a new $304 million campus in town, creating over 3,600 new jobs in addition to the existing 3,500 current positions. Apple Inc. has planned to increase their Texas workforce since they first opened shop with 1,000 employees in 2004. The new positions will expand the company’s capacity for customer support, sales, and accounting in the Southwest region.
“Being known as ‘Silicon Hills’ is fantastic for property owners because the influx of technology jobs can mean an increase in property values, especially with Austin luxury homes,” says Austin real estate broker Brian Talley.
The announcement came after the State of Texas offered Apple an investment of $21 million over a ten year period through the Texas Enterprise Fund (TEF). TEF provides the state’s leaders with a “deal closing fund” that has the flexibility and financial resources to help strengthen the state’s economy. It is primarily used to attract new business to the state or assist with the substantial expansion of an existing business as part of competitive recruitment, as in the case for Apple Inc.
State leadership also will be able to use Enterprise funds to leverage other resources for an economic development project, ensuring Texas has a bright future for jobs and business. To be eligible for TEF support, a project must demonstrate a significant return on the state’s investment and strong local support, a prospect Apple Inc. will have no trouble fulfilling.
Apple Inc. also will bring jobs to Austin through the construction of the new facility, currently in discussion to be located near the current office complex, located close to 183 and the Milwood neighborhood.
Julie Huls, president of the Austin Technology Council, said Apple’s expansion in Central Texas would cement the region’s reputation as a technology hub. “I think it’s a game changer for the state of Texas and Austin,” she said. “It’s a scale tipper for Austin to have an A-list company like Apple.”
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