Feeds

Apple using Texas cash to boost US hiring

$21m from Texas, 3,600 jobs to Austin

Internet Security Threat Report 2014

With the help of a $21m investment from a Texas job-creation fund, Apple will construct a $304m campus in Austin that will add over new 3,600 jobs to its current 47,000 US employees.

"Investments like this further Texas' potential to become the nation's next high-tech hub," said Texas governor Rick Perry in a statement.

The new jobs in the Texas capital, however, won't be high-tech, per se. According to Perry, the Austin campus will be the site of "customer support, sales and accounting functions."

The $21m investment will come from the Texas Enterprise Fund (TEF), which describes itself as "the largest 'deal-closing' fund of its kind in the nation." The cash grant will be spread over 10 years, Perry's office explained, and is "contingent upon the finalization of contracts and a local incentive agreement with the City of Austin and Travis County."

Such direct investments and tax benefits have become increasingly common in the US, with states such as Texas competing with other regions for corporate investment.

During his brief tenure as a candidate for the Republican presidential nomination, Perry was a vocal defender of the free market, but he has defended his administration's decidedly activist wooing of corporations to move to his state.

"We saw the need for the state to be a participant, and we consider ourselves to be a competitor with the private sector, and there's some people that get a little bit nervous about that," Perry told The Baylor Lariat on Friday. "But generally, we're the last resort, if you will, as a funding mechanism for some of these companies."

The TEF was likely not a "last resort" for Apple, which in its most recent financial filing revealed that it's sitting on $97.6bn in cash and securities. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.