Feeds

Apple using Texas cash to boost US hiring

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

Bridging the IT gap between rising business demands and ageing tools

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. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.