Texas Governor Rick Perry announced Friday that Apple will create 3,600 new jobs and expand it's operations in Austin. A $304 million investment in a new campus will double the current size of Apple's workforce in Texas over the course of the next decade. The expansion will see most jobs in the customer support, sales, and accounting functions.
In order to entice Apple's commitment to Austin, the State of Texas has offered $21 million over 10 years through the Texas Enterprise Fund. Completion of contracts and local incentive agreements with the City of Austin and Travis County are contingencies of the agreement. Until the incentive deals are approved, both Apple and local business recruiters are being tight-lipped about the totality of expansion plans in the city.
Apple's official statement: "Our operations in Austin have grown dramatically over the past decade, from less than 1,000 employees in 2004 to more than 3500 today. We're looking forward to building a new campus in Austin, which will more than double the size of our workforce there over the next decade."
This is great for Austin's economy and real estate market. With 3,600 new jobs over the next 10 years, that's thousands of homes that will be purchased by employees. This will help preserve home values as inventory is kept in check and desirability of certain areas remains strong through the influx of a steady stream of buyers.