As thousands of people made their way to Austin Friday morning for the SXSW Interactive Conference, the Governor's office announced a major trendsetter in the tech world will soon be expanding in Austin.
Thanks to $21 million from the Texas Enterprise Fund, Apple will undertake a major expansion in the Capital City, doubling its local workforce with the addition of 3,600 jobs.
"The fact that this company could have chosen anywhere in the world and they chose right here in Austin, Texas is big news,” Lucy Nashed with the Governor’s office said. “I think that's a great testament to how important this fund is."
According to documents filed with the City of Austin, Apple is planning to build what it's calling an "Operations Center" for its Americas region. Apple says the new offices would centralize several different functions like accounting and human resources.
Once built, the new campus could have up to 1,000,000 square feet of office space representing a more than $300 million investment by the company.
"They're creating 3,600 jobs so I think that the state is seeing quite a substantial, I guess if you want to call it, a return on the money we are giving them," Nashed said.
Before the project can begin the city of Austin has to approve their economic incentives.
According to the city, the project will represent a $23 million benefit to Austin over the next 14 years.
The Governor's Office says the project is what the Texas Enterprise Fund was designed for.
"This is one of the largest capital investments by a TEF recipient,” Nashed said. “It's about $300 million. It's also one of the largest job creation projects by a TEF recipient."
Apple will present its plan at a special Austin City Council Meeting Thursday.
A second meeting and public hearing will be held the following week. A vote on the project is expected at that time.