Tough economic times call for smart, efficient measures and North Carolina leaders think they have just the right solution. Earlier in the month, Governor Bev Perdue happily announced that Apple has chosen North Carolina as the location for their East Coast data center. “North Carolina continues to be a prime location for growing and expanding global technology companies,” said Perdue. “We welcome Apple to North Carolina and look forward to working with the company as it begins providing a significant economic boost to local communities and the state” (Perdue’s Official Website).
Apple would provide a significant economic boom to the county they choose to build within and to North Carolina as a whole because of the $1 Billion they intend to invest in the data center and the $5-6 million local expenditures expected. This center could also potentially create up to 3,000 jobs regionally and Senate leaders are welcoming Apple with open, eager arms.
North Carolina was not Apple’s only prospect for location however. Virginia also seemed to attract Apple and this had NC Senate leaders vying for some sort of edge. Thus, Bill 575 was specifically drafted to entice Apple. The bill “modifies the method by which capital-intensive businesses calculate corporate income tax liability in North Carolina” (Perdue’s Official Website), therefore making NC the more economically-proficient choice between the two states. The bill will save Apple almost $46 million in state taxes over the next couple of years; an opportunity no company could pass up.
For now, the site of the data center is still very much up in the air but there is speculation that Catawba and Cleveland counties are among the top choices. However, two things are for sure: NC can expect huge economic growth within the next couple of years and Apple has a new Southern home. A win-win situation.