Apple announced today that it will invest over $1 billion in North Carolina, building a new campus and engineering hub in Research Triangle Park in Wake County.
The Apple campus will be over 1 million square feet and create over 3,000 new jobs with an average salary of $187,000. Employees will work in fields such as machine learning, artificial intelligence and software engineering.
Apple has agreed to establish a $100 million fund to support school and community initiatives in the Raleigh-Durham area and contribute more than $110 million to the state’s utility fund for public infrastructure projects including broadband access in the state’s rural counties, according to NC House Speaker Tim Moore.
Apple received a North Carolina Jobs Development Investment Grant (JDIG) of over $845 million over 39 years, the largest JDIG in the state’s history.
The Apple facility will be built on part of the Research Triangle Park near Cary and Morrisville in Wake County.
This new campus is part of Apple’s plan to invest $430 billion and create 20,000 new jobs in the US in the next five years.
Apple CEO Tim Cook said, “At this moment of recovery and rebuilding, Apple is doubling down on our commitment to US innovation and manufacturing with a generational investment reaching communities across all 50 states.”
Moore said, “The General Assembly is committed to creating the type of business environment where successful companies like Apple can flourish. With our pro-growth tax code and policies that prioritize job growth and new investment across the state, the General Assembly has guaranteed that when a company like Apple chooses North Carolina, all of North Carolina wins.”
The total economic benefit to the state from the Apple investment will be over $1.5 billion annually, according to Moore.
North Carolina has been negotiating a deal with Apple since 2018 and revised the threshold for “transformative projects” that qualify for a higher level of state incentives.