In March of 2012, Apple committed to an investment of $282 million in a one million square foot new Americas Operations Center in Austin, promising to bring 3,635 jobs to the Texas state capital. Where is Apple’s new Austin home? The 10-year expansion project is well underway in northwest Austin near Parmer Lane and McNeil Road, with many of its future employees expected to look for homes of their own in the Milwood neighborhood just next door.
So far the Cupertino, California-based tech giant has spent over $27.8 million in facility design and construction, according to the Austin Business Journal (ABJ). Two of its buildings, totaling 290,000 square feet, have been granted temporary certificates of occupancy. The project stands in phase one of development, in which Apple committed to spend $56.5 million in the construction of new facilities. It is set to enter phase two, a further build-out budgeted at $226 million, at the start of 2016. Phase two will include 800,000 square feet of operating space.
Austin’s side of the deal includes $30 million in total incentives over the course of the 10-year expansion. The incentives come from the Texas Enterprise Fund.
Two years in and 1/10th of the budget spent, the operations center appears to be 10% complete. What’s next for the new Apple operations center?
City officials say four more buildings totaling 513,000 square feet and two parking garages have entered the permitting review process, and two additional buildings are in the planning stages.
Interestingly, Dell Inc. currently employs around 14,000 people in Austin. Apple, which ranks No. 7 in ABJ’s list of largest employers, currently employs 3,000. After the current expansion is complete, Apple is expected to move up to fifth. By the time its 10-year expansion is complete, Apple’s employees may outnumber its Austin-area rival!
Austin REALTOR® Brian Talley welcomes Apple’s new Northwest Austin headquarters and homebuyers entering the ATX real estate market. From a luxury home in Avery Ranch to a waterfront home in Westlake, choose Regent Property Group. We know Austin.