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Cupertino Approves New Apple Spaceship HQ

Posted by Unknown on from the you'll-never-want-to-leave dept.

mrspoonsi writes with news that Apple's plan to raze the old HP headquarters and replace it with some kind of space ship is moving forward. From the article: "A little over two years since Steve Jobs presented his case for it and after the occasional setback, the Cupertino City Council has finally given Apple full approval to go ahead with its futuristic campus. In exchange, Apple has agreed to fork over more money to the city in the form of a reduced sales tax rebate — going forward, Cupertino will only give back 35 percent sales tax instead of the 50 percent it had previously. Indeed, as soon as Apple gets its final permits some time today, it can begin demolishing the former HP headquarters and start building its own."

5 of 172 comments (clear)

  1. Wow. by LWATCDR · · Score: 5, Insightful

    "Under the new agreement, that rebate has been reduced to 35 percent, which based on 2012 tax revenues would mean the residents of Cupertino will pay Apple -- which recorded net sales of $156.5 billion during the last fiscal year, and has a cash hoard estimated at $100 billion -- only $4.4 million to stick around. It would have been $6.2 million under the old agreement. That's an extra $1.8 million for Cupertino, a city with only $51.4 million in projected general fund revenues this year, according to figures reported in the Los Angeles Times."

    Really Apple Cupertino gave you a tax break when things where not going well for you. Now you are doing well you are still getting a 4.4 million dollar kickback! Come one and just pay your taxes. You would increase the general fund by around 8%.
    AKA just do the right thing.

    --
    See my blog http://ilovecookes.blogspot.com/ for light hearted technical information.
    1. Re:Wow. by InsightfulPlusTwo · · Score: 5, Insightful

      A few observations:

      The city is not paying Apple anything; it is actually increasing their tax burden from the formerly reduced state. Thus the article, which says "the residents of Cupertino will pay [Apple] only $4.4 million to stick around" is misleading and deliberately inflammatory.

      The agreement was approved unanimously by the board. They think they are getting a good deal by having the world's largest corporation build a giant, permanent, iconic headquarters there and I agree. Any city in America would be happy to have them. Just think of all the tourists who are going to show up from around the world just to see this new building.

      The city gets a lot of benefits from Apple employees living and working there aside from direct taxation, in terms of personal living expenses and a well-educated populace, as mentioned elsewhere in the article.

      They can always renegotiate the tax breaks later if they really need the money.

      --
      I felt bad for the man who had no signature, until I met a man who had no comment.
  2. nothing new by Anonymous Coward · · Score: 5, Funny

    It is the pentagon, but thinner and with rounded corners.

  3. No they would not move away! by Dareth · · Score: 5, Funny

    They are building a space ship so they can "fly away" if the city doesn't cooperate. Read the bloody article!

    --

    I only look human.
    My mother is a halfling and my dad is an ogre, so that makes me an Ogreling
    1. Re:No they would not move away! by ShanghaiBill · · Score: 5, Insightful

      They are building a space ship so they can "fly away" if the city doesn't cooperate.

      They don't need to fly. They can walk. The next city (Sunnyvale) is about 200 meters from their current headquarters. Both Santa Clara and San Jose are within three miles.

      Apple is in a strong negotiating position. Personally, I think courts should strike down these special tax deals as a violation of the equal protection clause. For the cities, it is a prisoner's dilemma anyway, and they would better off if the practice was made illegal.