The Triangle on Monday landed a huge prize, one it’s been angling for for several years.
Apple announced plans for a $1 billion-plus campus and engineering hub that will create up to 3,000 high-paying jobs in the Triangle. A 1-million-square-foot building will be home to staff in machine learning, artificial intelligence, software engineering and other cutting-edge fields. Eventual minimum average salary will be $187,000.
Two years ago, the RTP region was in the running for a $900 million campus but Apple chose to expand in Austin, Texas.
According to WRAL, the campus will be built in RTP on land purchased in late 2018 by a company identified as Acute Investments LLC. The site is located off the Triangle Expressway between Louis Stephens Drive and Davis Drive. Listed in the deal is Bruce Thompson, a registered lobbyist for Apple.
Apple is also planning to invest more than $200 million to create two funds that will focus on school and infrastructure. One will invest $100 million to support schools and initiatives in the Triangle, and another will put more than $110 million toward infrastructure in 80 North Carolina counties
"Once this campus is up and running, it's expected to generate more than $1.5 billion a year an economic impact to our state," Gov. Roy Cooper said.
"When Apple creates those jobs per this agreement, it has the opportunity to get tax reimbursements of up to almost $846 million over 39 years," Cooper continued. "Importantly, as a result of these accountable and transformational incentives, Apple will contribute at least $110 million to North Carolina's Industrial Development Fund that will be available to the 80 North Carolina counties with the most need."
"New tax revenue generated by Apple's new campus and the high-paying jobs that come with it will help fund schools, colleges, roads and bridges from the mountains to the coast," said state Sen. Phil Berger.