The Triangle finally landed its white whale: Apple, as multiple outlets reported early this morning, announced it is making a $1 billion expansion into Research Triangle Park, bringing 3,000 jobs to Wake County over 10 years, according to the N.C. Department of Commerce.
Apple’s new campus and engineering hub, which will be located on 281 acres of land that Apple controls in RTP near Cary and Morrisville, will be the company’s largest presence on the East coast. Average wages for jobs in machine learning, artificial intelligence, software engineering, and more will come in at around $187,000 beginning in 2023.
Two years ago, RTP was in the running for a $900 million project from Apple and lost out to Austin, Texas. But after a company, Acute Investments, LLC, associated with Apple bought the land located in the southern portion of RTP near the intersection of Davis Drive and Interstate 540 in 2018, local leaders remained hopeful that the Triangle was still under consideration.
The Triangle expansion is part of a $430 billion investment in the U.S., according to a statement from Apple, with plans to add 20,000 jobs across the country over the next five years.
The state’s Economic Investment Committee, a branch of the commerce department, approved incentive deals worth $845.8 million to the company over a period of 49 years, or some $22,000,000 a year.
Apple will establish a $100 million fund to support schools and community initiatives in the Triangle and across the state, and will contribute more than $110 million in infrastructure spending to 80 North Carolina counties with the greatest need–funds that will go toward broadband, roads and bridges, and public schools, according to Apple’s news release. The company says it expects its investments to generate over $1.5 billion in annual economic benefits for North Carolina.
There are connections to the region in Apple’s leadership. Apple’s CEO, Tim Cook, earned his MBA from Duke University and its COO, Jeff Williams, is an N.C. State engineering graduate and also has an MBA from Duke.
“As a North-Carolina native, I’m thrilled Apple is expanding and creating new long-term job opportunities in the community I grew up in,” Williams said in a statement. “We’re proud that this new investment will also be supporting education and critical infrastructure projects across the state. Apple has been a part of North Carolina for nearly two decades, and we’re looking forward to continuing to grow and a bright future ahead.”
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