Apple Posts Document Outlining Its Economic Impact in Cupertino

Apple Posts Document Outlining Its Economic Impact in Cupertino

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Apple has posted a report on its website titled 'Economic and Fiscal Impacts Generated by Apple in Cupertino – Current Facilities and Apple Campus 2'

The report was prepared by Keyser Marston Associates, Inc. (KMA) for the City
of Cupertino under contract with Apple Inc.

A majority of the report describes the economic impact Apple has on the city, and how that could be increased with Campus 2.

●The 16,000 Apple employees in 2012 account for approximately 40% of Cupertino’s job base. Indirect and induced impacts support an additional 420 jobs in the city, bringing Apple’s total impact on Cupertino jobs to approximately 16,420.

●About 1,285 of the total 16,000 Apple employees lived in Cupertino in 2012, with annual base earnings in excess of $159 million. With Apple Campus 2, the number of Apple employees residing in Cupertino is expected to total 1,906, with base earnings totaling over $236 million.

●With Apple Campus 2, the net fiscal impact of Apple is anticipated to be $11.2 million, which represents an increase of $3.2 million of annual net revenue to the City of Cupertino.

●Apple is a key source of revenue for the City of Cupertino. It will directly generate $9.2
million of revenues to the City in 2012, representing 18% of the total annual General Fund budget of $50.9 million.

The report also outlined some of the public improvements Apple plans to build along with its Campus 2

As part of Apple Campus 2, Apple will also fund over $66 million of public improvements to be
built around the campus and in the City of Cupertino, as well as other community benefits.
These include $50.2 million of roadway, traffic, intersection, landscape and utility improvements,
$10 million of bicycle and pedestrian facilities, $3.7 million in park land, and a $2.5 million dollar
contribution for affordable housing. In addition to these one-time capital investments, Apple will
annually spend approximately $35 million on a transportation demand management program, to
implement the company’s alternative commute program.

You can check out the entire document at the link below.

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Apple Posts Document Outlining Its Economic Impact in CupertinoApple Posts Document Outlining Its Economic Impact in Cupertino