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Nevada Governor’s Office Approves Incentives for Apple’s $400 Million I-Cloud Data Center and Office Complex

Area Development Online News Desk (08/03/2012)
The Nevada Governor's Office of Economic Development approved $89 million in tax abatements for Apple to build a 350-acre Icloud data center east of Sparks, Nevada, along with an office complex in downtown Reno.

Apple's plans to build a $400 million I-cloud data center at Reno Technology Park, along with an office complex in Reno's Tessera District. The firm also plans to invest $1 billion in the area in the next decade. With the approval in place, the Governor's Office of Economic Development and Apple can finalize the contract, which will be sent to the Board of Examiners this month for approval.

"This is a great day for Nevada and in particular the Truckee Meadows," GOED Director Steve Hill. "Apple's investment in the area plus the prestige of the company's brand is a great next step in the region's economic diversification."

Apple's application for tax abatements was filed with GOED on June 12 and was endorsed on June 26 by the Washoe County Commission. Upon completion of the data center, Apple estimates it will hire at least 35 workers and more than 200 contract-employees.

The company's incentive agreement with the state proposed to reduce sales tax to 2 percent for up to three four-year periods and personal property taxes by 85 percent for up to three 10-year-periods, provided all conditions are met. There are no abatements on the cost of construction of the projects.

Washoe County Chairman Bob Larkin says, "The Washoe County Board of Commissioners recognizes that, as a leader in the global economy, Apple has many choices worldwide for where they can locate and invest hundreds of millions of dollars. The Board is extremely proud to endorse this project and be in the running to partner with them on such a prestigious economic development project. Having Apple in our community would put us on the global economic development map for other related industries."

"This proposed high speed data center could bring hundreds of much needed construction jobs to our area in the coming months. In addition, Apple promises the investment of $1 billion dollars in our region over the next 10 years. The agreement to move forward with this project represents a watershed moment for our region's economic future, he added.
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