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.