Apple Closes $304 Million Deal to Expand Austin Campus
Apple can now continue its plan to invest nearly $304 Million in its Austin Texas campus. The company has secured a deal to develop on three large patches of land adjacent to its current campus. When developed, the move will create more than 3,600 jobs.
The Austin Business Journal reports that Apple initially secured the land form Riata Vista, and closed the deal on June 20. Apple had originally hinted at its intent to expand its Austin operations back in March, when the Governor announced Apple would be doubling its workforce in the years to come.
It is reported that along with this deal, Apple would need to invest $56.5 million in new facilities and equipment by the end of 2015, with an additional $226 million by the end of 2021.
Apple also plans to expand its California headquarters with the development of the "Spaceship" campus, which Steve Jobs presented to the Cupertino City Council last year.