Unpacking Apple’s juicy incentives package

Commissioners in Williamson County unanimously approved an incentives package Tuesday that will bring Apple Inc.’s new $1 billion campus to the Austin area. The Chapter 381 agreement calls for Apple to spend at least $400 million to purchase and develop land in Williamson County (the Robinson Ranch stretch that was a potential site for Amazon HQ2) over 15 years. The tax deal from Williamson County that removes 65 percent of its property tax levy will require Apple to create 4,000 full-time jobs over the course of the agreement, less than the 5,000 jobs that are initially expected at the campus. The company is also eligible for and is expected to receive $25 million from the Texas Enterprise Fund.