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Apple’s move to the Triangle will It will cost the state more than $845 million dollars in tax breaks promised over the next 39 years. RALEIGH — Last week Apple Inc. announced North Carolina will be the new home to a billion-dollar campus working in machine learning, artificial intelligence, and software engineering. The move will create 3,000 jobs that pay an average of $187,000 annually.
It is a high-impact announcement for the area around the state capital, Raleigh/Durham and Cary, but the deal includes community and infrastructure contributions from the tech giant amounting to an estimated $1.5 billion in economic benefits to the state. It will also cost the state more than $845 million dollars in tax breaks promised over the next 39 years. When local incentives are added, the total comes closer to $1 billion in incentives to draw the tech giant.
The state money for Apple is coming from a program called JDIG, or the Job Development Investment Grant. It was originally intended to reward and draw companies to more disadvantaged areas in the state.
To determine ranking, all 100 counties are ranked by economic income, unemployment rate, and changes in population. The 40 most challenged counties are Tier One, […]