Sunday, 19 January, 2020

State approves millions in tax incentives for Apple data centers

State approves millions in tax incentives for Apple data centers State approves millions in tax incentives for Apple data centers
Debra Rodriguez | 25 August, 2017, 02:12

Apple Inc.'s plans to locate a $1.375 billion data center complex in Waukee - aided by more than $213 million in state and local investments - represents another building block in Iowa's march to become a "new home for innovation in America's heartland", the company's chief executive officer told Iowans who gathered for the official announcement outside the state Capitol building Thursday. Apple says it will be working with local partners to invest in renewable energy projects from wind and other sources to power the data center. "This investment in our state is vital as we continue to develop as a technology hub and grow our workforce".

It will get $208 million in state and local tax benefits, according to The Associated Press.

The city council of Waukee, Iowa, a town with about 20,000 residents, is holding a special meeting Thursday to hear the public's opinion about a mysterious "Project Morgan".

The California-based company is due to meet with Iowa's Economic Development Authority today, the schedule for which was published and reported on yesterday by The Des Moines Register.

Apple said it will invest $1.3 billion to build a data center in Waukee, Iowa to host the company's various services in North America.

$758.7M Powerball victor speaks out, calls jackpot 'a pipe dream'
In addition to the 25 percent federal tax that the victor will have to pay, the state will collect 5 percent of the jackpot. Reporters asked if she considered holding onto her ticket and waiting until the excitement died down to come forward.

Construction on the data center is expected to start early next year and Apple plans to bring it online in 2020.

"It's always unfortunate that we always focus on 'well, it's just 50 jobs, ' because we're really not impacting what this really means and how this is really changing the knowledge economy in Iowa", Durham said.

"It is a minimal investment for the amount of investment that's being done in the state of Iowa", Reynolds added.

The move will create at least 50 jobs that pay at least $29.12 per hour.

Apple will buy 2,000 acres of land in the city for the project, the first phase of which will include two facilities, Iowa Gov. Kim Reynolds announced. "It only makes sense from a politician's point of view", said David Swenson, an economist at Iowa State University and critic of such large economic development project tax breaks.

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