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Apple Buying Land for $304 Million Expansion of Austin, TX. Campus

Apple Buying Land for $304 Million Expansion of Austin, TX. Campus

Apple’s plans for a $304 million Austin, TX campus expansion are under way, as the company recently bought three tracts of land in the city.

AppleInsider:

The purchase discovered by Austin Business Journal was finalized on June 20, though the exact acreage and the price remain unknown. The deal between Apple and McShane Development Co., LLC, was for three tracts of land in the Milwood Section 20 subdivision near Parmer Lane and Delcour Drive.

The land is adjacent to Apple’s current campus, at 12545 Riata Vista Circle in Austin. With the $304 million expansion, Apple plans to create 3,600 new jobs, which will double the size of its current workforce in the state of Texas.

The current campus workers job functions are primarily related to customer support, sales, and accounting. The state of Texas has agreed to award Apple $21 million over the next 10 years in return for the new jobs and the expected economic stimulus.

The city of Austin has also agreed to an $8.6 million grant to Apple for its office expansion. Travis County granted $5.4 million in tax rebates to the iOS device maker in return for minimum salary requirements. Apple has pledged that the bottom 10 percent of its employees will make an average salary of $35,000, and agreed to a minimum of $11-per-hour for contractors.

The largest part of Apple’s investment will be in a $226 million 800,000 square-foot office located in North Austin.

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