Listen Online - Listen on Mobile Radio.com | Mobile App Info

Reno Lures Apple With Tax Breaks

RENO, Nev. (AP) — The Reno City Council is considering tax breaks meant to coax computer giant Apple to open two facilities in northern Nevada.

Councilmembers were set to discuss a proposal Wednesday that would have Apple investing $1 billion in the region over ten years.

The deal includes $89 million in county, city and state tax abatements. Analysts say that’s a 79 percent reduction in the company’s tax burden.

Washoe County commissioners signed off on their end of the bargain Tuesday.

Steve Hill of the Nevada Office on Economic Development says the tax breaks are critical for Nevada to compete with other potential Apple sites, including sales tax-free Oregon.

Apple is proposing a data center east of Sparks to house its cloud computing service, and a business and purchasing center in downtown Reno.

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Las Vegas

Get Started
Introducing Your New Podcast Network Play.it

Listen Live