Reno OKs tax breaks for Apple project

AP News
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Posted: Jun 27, 2012 7:34 PM
Reno OKs tax breaks for Apple project
RENO, Nev. (AP) — The Reno City Council has unanimously approved tax breaks to coax Apple Inc. to open two facilities in northern Nevada as part of a $1 billion investment over 10 years.Reno officials agreed to the city's portion of a deal that includes $89 million in county, city and state tax abatements. Analysts say that's a 79 percent reduction in Apple's tax burden.Apple says it will build a 350-acre data center east of Sparks to house servers for its cloud computing service. It also plans a business and purchasing center in Reno's Tessera District, a blighted area on the northeastern side of downtown.Analysts predict the project will create about 500 temporary construction jobs and, once completed, generate $343 million in economic activity over the next decade.