Apple Says It's Building A New $1 Billion Campus In North Austin

Apple will splash out $1 billion on new Austin campus

Apple is building a new $1 billion campus in Austin

Earlier this year, Apple said it would invest $30 billion in capital spending in the USA over five years, the report said.

This new facility will sit less than a mile from its existing location on Parmer Lane and will host up to 5,000 additional employees to start, with positions in engineering, research and development, operations, finance, sales and customer support.

In a Thursday early morning post on its website, Apple said in addition to the Austin campus, it would open smaller locations in Seattle, San Diego and Culver City, Calif., and over the next three years will expand in Pittsburgh, New York and Colorado.

Cities are eager to bring in more tech employers because companies like Apple and Amazon ladle out six-figure salaries to engineers and other skilled workers. Apple already has an Austin office that employs 6,200 people-the second-largest concentration behind the company's northern California headquarters. Apple predicts its Miami office will double in size.

Apple is already the largest taxpayer in the U.S. and earlier this year said it expects to invest over $30 billion in capital expenditures in the United States over the next five years.

Unlike tech rival Amazon, Apple did not hold a public bidding process to choose the site of its new campus.

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Apple has a market capitalization of about $803 billion, making it one of the world's most valuable firms, but the company's stock price has been under pressure due to concerns about declining demand for new iPhones.

However, in recent months, Cook has modified that view, saying in an interview this year that "it's not true that the iPhone is not made in the United States".

The new campus, located in North Austin, will measure 133 acres, with 50 acres of preserved open space. "From our point of view, we didn't want to create this contest, because I think what comes out of that is you wind up putting people through a ton of work to select one, so that is a case where you have a victor and a lot of losers".

The company has not yet detailed what incentives it will receive from the city and state.

North Carolina leaders have not said how much the state was offering Apple in incentives, but the legislative changes to incentives removed the limit on what could be offered per job and allowed companies to get credit for future expansions of their workforce. Each site will employ around 25,000 people. Over a five year period Apple will invest $10 billion in USA data centers, with North Carolina, Arizona, and Nevada sites all expected to expand.

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