in Houston, Texas
Apple - world’s most valuable company - to get $6.4 million in Travis County tax breaks
Tuesday, May 01, 2012, 06:10PM CST
By Mike Cronin
Apple

So important is keeping Apple Inc.the world’s most valuable company as of January – in Austin that Travis County officials have cobbled together a deal that would give the computer behemoth up to $6.4 million in tax rebates, the Austin-American Statesman reports today.

A total of $36 million in state- and local-government incentives could be going to Apple, writes the Statesman’s Farzad Mashhood.

Travis County commissioners approved the proposal during a meeting this morning.

Commissioners raised property taxes by about 4 percent in September.

The package “sets a $35,000 minimum salary for the lowest-paid of Apple's new Austin workers as part of a deal to bring 3,665 jobs to a planned North Austin campus,” Mashhood writes. “Apple needs to hire all 3,665 new workers by the end of 2025 and the first batch of 300 workers by the end of 2016.”

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Contact Mike Cronin at mike@texaswatchdog.org or 713-228-2850. Follow him on Twitter at @michaelccronin or @texaswatchdog.

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Photo 'Apple Pop-Up Store at SXSW' by flickr user hyku, used via a Creative Commons license.

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