Texas commissioners consider Apple tax rebate
Travis County [Texas] Commissioners held a public hearing Tuesday to discuss a tax rebate deal that would give Apple US$7.4 million to build a new campus and create thousands of new jobs in Austin, according to the "Austin Business Journal" (http://macte.ch/UyXCi).
Former Travis County Judge Bill Aleshire said he is against the company receiving any tax breaks, the article adds. The Austin City Council has already approved an $8.6 million economic development grant, and the state of Texas has approved $21 million through the Texas Enterprise Fund.
Travis County Commissioner Sarah Eckhardt wants the tech giant to agree to certain job guarantees and help fund Lone Star Rail in order to receive the tax rebates, notes the "Austin Business Journal." Last month Gov. Rick Perry announced that Apple will expand its presence in 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, supporting the company's growing operations in the Americas with expanded customer support, sales and accounting functions for the region. 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).