Economic Incentives

City Hall photo by Callie Hernandez for KUT News

Rome wasn’t built in a day – and should it expand in Austin, computing-giant Apple’s “Americas Operations Center” would take some time too.

At today’s meeting of the Austin City Council, company representatives stated it would take four years to build a 200,000 square foot facility in Northwest Austin if Apple decides to expand here.

That was one of the details the council learned today at a meeting on the proposed property tax rebate agreement the city is considering with Apple. We wrote in detail about the contract yesterday.

Photo courtesy flickr.com/tomask

Last week, Gov. Rick Perry’s announced a $21 million economic development agreement with computing-giant Apple. The company is considering a major expansion of its Austin campus, potentially creating up to 3,600 new jobs and investing hundreds of millions of dollars.

This Thursday, the Austin City Council is set to receive a briefing on an economic development deal with Apple. But the contract the city is considering is completely different from the governor’s proposal.

Confused? Don’t worry. We've sorted out the details.

KUT News

Travis County wants to become an economic stimulator. At their regular meeting, county commissioners discussed a proposal to amend the county tax code in order to offer an incentive for businesses that want to relocate to Travis County. The City of Austin and the State of Texas have similar programs, but commissioners are proposing something different.

Bundle of cash
Image courtesy http://www.flickr.com/photos/refractedmoments/

A state lawmaker wants to abolish the Texas Enterprise Fund and other pools of money Governor Perry can use at his discretion to attract investment. But doing so could disproportionately harm Austin, according to our analysis of a report released last week by Texas Comptroller Susan Combs.

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