Why Iowa is giving Apple $208 million

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August 31, 2017

In exchange for nearly $208 million in state and local tax breaks, the technology giant Apple has agreed to build two new data centers on 2,000 acres of Iowa land — a project that would create just 50 permanent jobs.  

This isn’t a deal about workers, though. At least, not directly.

At a time when government officials are partnering with companies to boost employment, Apple’s agreement with Iowa lawmakers highlights another reason states are courting businesses with colossal discounts: Corporate investments can help rural communities afford to grow.

Apple is a boon for Waukee, a town about 18 miles west of Des Moines, which is working to keep up with its rising population. Over the past seven years, the community has swelled from about 13,700 residents to 19,200.

Dan Dutcher, Waukee’s director of economic development, said money from Apple will be crucial for updating roads and building public amenities such as parks. The city expects it will make $2 million each year from property taxes.

See the full article on The Washington Post

Printed courtesy of www.iowachamber.net/ – Contact the Iowa Chamber of Commerce Executives for more information.
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