Apple Campus in RTP area? (Charlotte, Raleigh: payment, career, average)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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So much for the "RTP isn't the anchor of the Triangle anymore" argument...
Not sure who felt the need to make what I think was an attempted snarky remark response to this comment of mine...but thanks for the rep points I guess?
Not sure who felt the need to make what I think was an attempted snarky remark response to this comment of mine...but thanks for the rep points I guess?
Weird world....
Or, as Jim Morrison and The Doors so succinctly put it:
"People are strange."
Mike, you, TarHeelNick, and all the realtors in the Triangle, will be printing money like there's no tomorrow with those new, crazy huge commissions, you won't know what to do with it all!
Yep, not discounting that, but to say "Apple invests" is a bit of a misnomer. We, the taxpayer, are picking up 95.8% of that "investment"
Misleading comparison.
1. The denominator is wrong, comparing a one-time capital expense (upfront investment) to an ongoing operating expense (refunded withheld income tax). The $846M in income tax rebates paid out over 39 years should be compared to the $21,879M in payroll paid out over 39 years. The incentive amount ends up being 3.9% of that total.
2. A lump sum figure today should be compared to the discounted net present value of an income stream, not to the simple sum of that income over 39 years -- because $1 paid in 2060 is worth less than $1 paid in 2021.
Could a $10M lotto winner afford a $7M purchase? (Ignore taxes on winnings for a moment.) Sounds plausible, but the answer is no -- because a $10M lottery prize is either paid out as $10M over 20 years, or $6M up front.
3. Worth noting that the incentive isn't a one-off deal, but available for any company that creates 2,700+ jobs. Still unfair to smaller businesses, I suppose.
4. Unlike the Foxconn deal, which did involve upfront capital expenditure, NC doesn't pay tax rebates until after Apple pays taxes.
5. It seems that Ohio offered even more cash, and even lower tax rates. This was not a case of shopping for the lowest bidder.
I know they're currently working on the missing link of Louis Stephens under 540 right now, but this development will probably accelerate the timeline for widening both Louis Stephens and Little Drive to full capacity (four lanes) sooner than expected in that area.
The owner of Parkside Town Commons is probably also thrilled at the huge influx of business that center is likely to get as well in the future.
So much for the "RTP isn't the anchor of the Triangle anymore" argument...
What kind of anchor is it though?
The keys to the area's growth and success, in my opinion, lie in being understated, not trying to be anything other than what it already is, valuing quality over quantity.
RTP gives the area international clout but even among tech cities it's often not even mentioned on the lists of big players like Austin or even some corridor in Boston.
Atlanta has a tech employment base of about 150,000 and Microsoft is building a huge 90 acre campus. Google and the other big names are well established here. Isn't RTP's around 60,000-70,000?
RTP has an older reputation as a tech hub, but Wake County prospers with or without it.
Is is the jobs anchor? probably not.
Is it the geographical anchor? maybe.
I'm not dissing RTP in any way, but those people who live in SW Wake or South of Raleigh might view it as more vital to the area than people on the Northern side of the Triangle cities which have done quite well on their own for decades.
Raleigh is the capital and has many other attributes responsible for its success.
Yup.
We moved from one dying area in PA to another dying area in PA before coming to Cary.
I don't miss living in areas with stable or declining population, where all the kids move away because there is limited future for them.
Yeah, I miss quiet and pace, but not the relentless stagnation.
We've talked before. I came from the same area as you. I listened to a talk show from Scranton today and the host said there were help wanted signs everywhere - all the fast food restaurants. I know there may be here too but that was the big topic of discussion today because people want to stay on unemployment because they make more money doing that than working one of those jobs. Between those jobs and warehouse/distribution center/call center jobs, there isn't a lot for the area of Northeast PA to offer. That's why I moved here. I do miss the family I have left and the house and the land I grew up on (2 plus acres in a rural area) but I don't miss struggling or just getting by and a lot of people are and have 2 to 3 jobs. The census figures also came out today and Pennsylvania lost a seat in Congress and North Carolina gained one. No big surprise there. I am glad to be living in vibrant and growing area.
Wellll...
That 187,000 smackers x 3,000 headcount x the 39 year timeframe for the incentive payout makes the $28,000,000,000 projected potential payroll look mighty fine, not to mention associated additional economic impacts.
Once those Apple, Google, and all of the other very high paying jobs materialize, look for the per capita income for this area to be through the roof. Raleigh/Wake County already has the highest per capita in the state, but it will be off the charts in a few years. Watch for many more economic benefits to be reaped over the coming years.
The keys to the area's growth and success, in my opinion, lie in being understated, not trying to be anything other than what it already is, valuing quality over quantity.
RTP gives the area international clout but even among tech cities it's often not even mentioned on the lists of big players like Austin or even some corridor in Boston.
Atlanta has a tech employment base of about 150,000 and Microsoft is building a huge 90 acre campus. Google and the other big names are well established here. Isn't RTP's around 60,000-70,000?
RTP has an older reputation as a tech hub, but Wake County prospers with or without it.
Is is the jobs anchor? probably not.
Is it the geographical anchor? maybe.
I'm not dissing RTP in any way, but those people who live in SW Wake or South of Raleigh might view it as more vital to the area than people on the Northern side of the Triangle cities which have done quite well on their own for decades.
Raleigh is the capital and has many other attributes responsible for its success.
That is just my opinion.
Life Sciences has driven the explosive growth here in the past few years. However, I am wondering if the “reinvention” of RTP, along with the exodus of tech companies from Silicon Valley to lower cost post-covid areas like this one are rebalancing the mix of tech vs. life sciences ? Can’t get much better than Google and Apple.
Atlanta has, and will always have, “issues” in my opinion. I don’t consider it to be a tech hub in any respect.
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It wasn't me.
