Apple to Invest $1B in Austin Campus, Create New Sites in California, Seattle
AUSTIN, TEXAS — Apple (NASDAQ: AAPL) will expand its operations in Austin by building a $1 billion campus in North Austin, the Cupertino, Calif.-based company announced Thursday morning. The new campus will be located less than one mile from existing facilities, though the exact site and development timeline were not disclosed.
Apple officials said the 133-acre campus is expected to initially employ 5,000 new workers with the potential to house 15,000 employees, which Apple says would make it the largest private employer in Austin. The jobs to be created will be in engineering, research and development, operations, finance, sales and customer support.
“Apple is proud to bring new investment, jobs and opportunity to cities across the United States and to significantly deepen our quarter-century partnership with the city and people of Austin,” says Apple CEO Tim Cook. “Talent, creativity and tomorrow’s breakthrough ideas aren’t limited by region or ZIP code, and, with this new expansion, we’re redoubling our commitment to cultivating the high-tech sector and workforce nationwide.”
The Austin Business Journal reports that the Texas capital is the second-largest hub for Apple outside company headquarters. A recent report by Yardi Systems Inc. pegged Apple as one of Austin’s largest office landlords with ownership of 725,000 square feet.
The location of the new site caps a nearly yearlong search by Apple to pick a new corporate location.
“Apple and Austin share a creative spark and a commitment to getting big things done,” says Austin Mayor Steve Adler. “We share their commitment to diversity and inclusion. We’re excited they are bringing more middle-skilled jobs to the area. And we’re particularly gratified by their commitment to providing a great place to work for a large and growing number of America’s veterans.”
The new campus will include 50 acres of preserved open space and its workspaces will be powered by 100 percent renewable energy.
Apple also plans to create new sites in San Diego, Seattle and Culver City, Calif., over the next three years that will include more than 1,000 employees at each site. The company expects to hire hundreds of workers in Pittsburgh; New York City; Portland, Ore.; and Boulder, Colo. The Miami office is expected to double in size.
In addition, Apple will invest $10 billion in data centers in the U.S. over the next five years, including centers in North Carolina, Arizona and Nevada which are currently being expanded. Apple added 6,000 jobs in the U.S. this year alone and employs over 90,000 workers in the U.S.
Apple’s stock price closed Wednesday at $169.10 per share, down slightly from $172.27 one year ago.
— Alex Tostado