UPDATE: Apple later confirmed that it indeed chose North Carolina as the site of its new data center.
(WEB HOST INDUSTRY REVIEW) — In an attempt to lure a possible billion dollar investment, the North Carolina legislature approved changes in the state’s corporate income tax law, which could be worth millions to ubiquitous technology company Apple (www.apple.com) in the next decade, according to a memo by legislative fiscal staffers.
According to an Associated Press report, the Senate voted 40-8 on the new tax legislation on Monday with conditions including that the company that qualifies must invest in a rural area. The official memo, according to AP, hints that Apple could get around $46 million in tax breaks if it meet the criteria and reaches its $1 billion investment target within nine years of starting.
Last month, AP reported that Apple, looking for a site for its East Coast server farm, was the company the tax break targeted. Sites in western North Carolina are under consideration, including in Catawba and Cleveland counties, which both posted April unemployment rates of about 15 percent, compared to the national rate of 8.9 percent.
In recent history, the state has been offering some of the largest tax breaks in its history to companies building data centers.
In early 2007, Google (www.google.com) opened a $600 million data center in the western North Carolina foothills, which benefited from state and local government incentives worth up to $260 million over 30 years.
