Market Overview

Apple to Build $304 Million Campus in Texas

It was revealed on Friday that Apple (NASDAQ: AAPL) will be building a new $304 million campus in Austin, Texas, in the process more than doubling its workforce in the city, after it was boosted by a $21 million incentive from a state fund put together by Gov. Rick Perry to attract high-tech companies.

The cash comes with a clause though. In exchange from Perry's money, Apple promise to add over 3,600 employees at its new facility. Sounds fair enough.

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

Apple, the most valuable company in the world, saw its market capitalization top $500 billion in March, and it remainns above that mark.

“Our operations in Austin have grown dramatically over the past decade, from less than 1,000 employees in 2004 to more than 3,500 today,” said Steve Dowling, a spokesman for AAPL, to the Washington Post.

Posted-In: News Contracts

 

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