Apple has just revealed that it is moving forward in expanding its current investments in north Nevada with an additional $1 billion. The Reno City council approved a new deal with the company, which includes the purchase of a parcel of land in downtown Reno for a $4 million, 27,000 square-foot shipping and receiving warehouse. The bulk of the company's investment will be to double the size of its #Data Center to meet the demand of its ever-increasing iCloud storage needs.

Tax incentives

A lot of big name tech firms have started to call Nevada their home due to the state's friendly tax incentives. Apple previously opened a $1 billion data center in 2012 and was awarded a $89 million state and sales tax abatement.

Advertisements
Advertisements

Just last month, Google purchased a 1,210-acre land at the Tahoe Reno Industrial Center for an unknown new project. Other data centers are also slowly popping up from companies such as Switch and Rackspace.

A very good deal

Apple's additional $1 billion investment is expected to generate a lot of new jobs that is estimated to include 100 new employees and around 300 new construction related jobs. As part of the new deal, which was finalized Wednesday, the Reno City council also wanted Apple's new structures to be a sort of attraction for other businesses.

The land that was purchased for Apple's warehouse was originally intended to be a mix-use development that would include malls, hotels, and office building. However, that vision quickly changed after the recession. Developers are now hoping that Apple's new investment would make the district into a home for other tech and research companies seeing as that it is also in close proximity to the University of Nevada.

Advertisements

The company does not usually put a signage on any of its "high security" facilities, but it is apparently making an exception in the new agreement. Council members apparently want to attract additional investments to its downtown area, called the Tessera District, and having a clearly-labeled Apple structure would apparently serve that purpose.

Current contributions

Apple's current data center located in Reno Technology Park in the Truckee River canyon, just 5 miles west from Tesla's new battery factory, already employs more than 700 workers. Since its construction, other investments have started to roll in that have in turn funneled millions of dollars in jobs, revenues, and taxes for the state. #Square Foot