Apple to receive $213M in tax breaks for 50-job data center

Apple to receive $213M in tax breaks for 50-job data center

Apple to receive $213M in tax breaks for 50-job data center

Reynolds credited Iowa's productive workforce, central location, infrastructure and lead role as a provider of low-priced renewable energy as key factors in Apple's decision to join other tech giants such as Facebook, Google and Microsoft to build data centers in Iowa. "Apple is responsible for 2 million jobs in all 50 states and we're proud today's investment will add to the more than 10,000 jobs we already support across Iowa, providing even more economic opportunity for the community".

Construction will start in early 2018 and the data center is expected to be online in 2020.

Apple said 550 construction and operations jobs will be created by the project, which the company estimated at $1.3 billion. The Des Moines Register reported Thursday that Apple's been given about $207 million in local and state tax incentives. The new Public Improvement Fund, to be established and managed by the City of Waukee, will support the development of community projects like parks, libraries and recreational spaces, as well as infrastructure needs. The city's match, including tax abatement and water and sewer infrastructure improvements, will total $194 million.

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Plus, Iowa is known for its relatively cheap energy and a large and growing portfolio of power derived from wind energy, a favorite selling point among Silicon Valley executives.

"If we want to grow this economy and provide more revenue then we should be doing what we can to bring jobs and businesses to the state of Iowa", Reynolds said to reporters following the announcement.

Apple will spend $110 million to acquire and prepare the land for its data centers in Iowa, according to economic development officials. Google, Facebook and Microsoft have already set up data centers in the state. But a New York Times report past year chronicled the disappointment that many small towns felt when the construction boom faded. "That speaks to something that we look for in our reports, and that's precedent". In Knoxville, 3M produces materials that help form the display modules of iPhones and iPads.

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