Apple’s next campus is finally coming to Wake County — and bringing at least 3,000 jobs with an average salary of $187,000 to its 1 million sqft hub. The company will invest more than $1 billion in the state by 2032.
The project — located at the intersection of Louis Stephenson Rd. and Little Dr. — will house research + development and operations and engineering, and the facility will be powered 100% from renewable energy sources.
NC uses Job Development Investment Grants (JDIGs) to incentivize companies like Apple coming to the state as a way to promote growth in the local economy. This project is estimated to grow NC’s economy by ~$79.8 billion over 39 years + the 3,000 new jobs will generate $1.97 billion in state tax revenue.
Therefore, the state is giving Apple a potential reimbursement of up to $845.8 million over the 39 year period. All JDIG payments only occur if the company meets its incremental job creation + investment targets.
Apple is also planning to set up a $100 million fund to support schools + community initiatives across NC.
DYK: Apple’s COO Jeff Williams is a Raleigh native. Jeff attended Sanderson High School, undergrad at NC State + the MBA program at Duke University. Bonus: Apple CEO Tim Cook is also a graduate of Duke.
“As a North Carolina native, I’m thrilled Apple is expanding and creating new long-term job opportunities in the community I grew up in,” he said in the press release. “We’re proud that this new investment will also be supporting education and critical infrastructure projects across the state.”