DES MOINES, Iowa (AP) — Iowa approved a deal Thursday to give Apple $208 million in state and local tax breaks to build two data storage centers near Des Moines and to create at least 50 jobs — a pact that critics quickly panned.
The deal approved by the Iowa Economic Development Authority includes a refund of $19.6 million in state sales taxes for Apple Inc. and a $188 million break on property taxes from Waukee, a booming suburb of Des Moines.
In addition to the promised 50 jobs, Apple has agreed to buy 2,000 acres of land for the $1.4 billion project, enough to allow for future development, said Debi Durham, the state’s economic development director.
At an event with Republican Gov. Kim Reynolds outside the Capitol building, Apple CEO Tim Cook credited Iowa’s “world-class power grid” and what he called the state’s culture of developing computer programmers who have created applications ranging from education to entertainment.