Cupertino’s biggest employer, Apple, will open a $5 billion dollar new facility and is predicted to create 7,400 new full-time jobs, and giving the local town an additional $13 million dollars in tax revenue annually.
Apple is currently working on an environmental impact report for the four-story, donut-shaped headquarters which will be called Apple Campus 2. The company is also rumored to spend around $5 billion on the new project.
The company who is usually secretive about their projects and upcoming gadgets released the news on Tuesday that it commissioned an economic study that forecasts a $13 million worth of tax revenue for Cupertino every year, this is and estimated to $3.8 million increase from their 2012 revenue.
Santa Clara University professor Chuck Byers sees Apple’s public relationship as something positive. The company is clearly seeing the benefit of working with the community and all other interest groups that make up the community.
Tim Cook, Apple CEO has already appeared before the Senate committee whom criticized the company’s tax policies which allowed them to avoid U.S. income taxes of an estimated $102 billion income overseas. Byers thinks that Apple’s economic impact study is targeted on influencing local opinion for the new Apple Campus 2.
In a study conducted by Keyser Marston Associates, property tax revenue to local governments from the new facility would increase from $25 million to $57 million. That in turn would mean more funding for fire and police departments, parks, schools, libraries, and roads. Apple also announced that they plan to spend around $68 million on bicycle, pedestrian paths, roads, parks, and inexpensive housing near the Campus 2.
Apple is already employing more than 16,000 full-time employees in the Cupertino area, making it the city’s largest employer. As Campus 2 opens, Apple will then have 24,000 full-time employees in Cupertino, and around 41,100 in the Santa Clara County.
