Apple is coming to Texas with a $304 million investment in a new campus in Austin that will create more than 3,600 new jobs. The new campus will more than double the size of Apple’s workforce in Texas over the next decade. In exchange for Apple’s commitment to create these new jobs in Texas, the state has offered Apple an investment of $21 million over ten years through the Texas Enterprise Fund (TEF), announced Texas Gov. Rick Perry.
When completed, it will be one of the largest job creation projects in TEF history, and one of the largest capital investments by a TEF recipient. The agreement is contingent upon the finalization of contracts and a local incentive agreement with the City of Austin and Travis County.
TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state’s most competitive tools to recruit and bolster business. To date, the TEF has invested more than $443.4 million and closed the deal on projects generating more than 62,000 new jobs and more than $15.4 billion in capital investment in the state.
[Image: Apple’s energy- and material-efficient data center located in Maiden, North Carolina. Courtesy: Apple]