Today Apple news, Apple NC Campus Means $1 Billion for the State.
Apple is once again expanding its footprint in the United States. The Cupertino-based tech giant announced on Monday April 26, 2021 the next billion dollar campus in North Carolina. The Apple NC campus is expected to create more than 3,000 new jobs in the region, according to information provided to CNBC.
Expanding Apple Jobs in the United States
The news comes two years after the Research-Triangle Park area lost a $ 900 million campus. At that time, Apple instead chose to expand its campus in Austin, Texas. Apple currently plans to open the expanded Austin campus in 2022. With the addition of the Apple NC campus, the tech giant is doing more than creating jobs. Apple is also clearly indicating its determination to expand beyond its Cupertino headquarters.
Most of Apple’s engineering is based in Cupertino, where the giant employs around 25,000 people. About 12,000 of these employees work within the Spaceship Campus. In Raleigh, Apple will have more than 3,000 people working on technology, including software engineering and machine learning.
RTP Campus planned by Apple
The Research-Triangle Park area, named for its proximity to North Carolina State University, Duke University, and the University of North Carolina, has long been home to tech giants. IBM, Lenovo, Oracle and Cisco, among others, already have large presences in the region. Google is also planning a new engineering hub in the region.
The Apple NC campus will be a one million square foot facility and the 3,000+ employees will earn an average salary of $ 185,000. These jobs will span machine learning, artificial intelligence, software engineering, and other high-tech industries. Apple apparently plans to build the campus on land between Louis Stephens Drive and Davis Drive on the Triangle Freeway.
The company doesn’t just plan to create jobs in North Carolina. Cupertino told NC News WRAL affiliate Raleigh that he was creating two funds to give back to the region. One includes $ 100 million to support schools and community initiatives in the Triangle. The other investment, valued at $ 110 million, will go to infrastructure in 80 North Carolina counties.
The advantages of the Apple campus in North Carolina
Of course, the deal has benefits for Cupertino and North Carolina. In addition to being able to count on a large number of tech graduates each year, Apple has negotiated tax incentives for the deal. The North Carolina Economic Investment Committee, part of the state’s Department of Commerce, recently entered into a contract with Apple providing millions of dollars in tax incentives in return for meeting the company’s new professional demands. business.
On the state side, the investments and job creation associated with the Apple NC campus are expected to generate “at least $ 1.5 billion per year for the state of North Carolina,” according to the economist and professor of University of North Carolina, John Connaughton.