Apple's Search For A Second Campus Won't Look Like Amazon's

Tim Cook, Apple
Apple Ceo Tim Cook

Site selection for Apple’s new corporate campus in the U.S. will not go through a bidding process like Amazon’s HQ2. Apple CEO Tim Cook said the company has already narrowed down the list and does not plan to have an auction-style process, Reuters reports. Amazon released its HQ2 shortlist Thursday, narrowing down a playing field from 238 bids to 20.

Apple's second campus most likely will not be in California, where it has its Apple Park campus in Cupertino, or Texas, where it has a large customer service and computer assembly operation, Cook said in an interview with ABC News. The company plans to announce the location later this year.

The expansion, which will include additional data center and manufacturing operations, was due in part to the changes to the U.S. tax policy that allowed for additional capital commitments in the U.S., Cook said during the ABC News interview. The tech giant, which is one of the largest taxpayers in the country, will pay $38B in taxes on repatriated funds, said to be the largest ever of this kind.

The company plans to invest $30B over the next five years as part of its expansion, which Apple estimates will generate 20,000 jobs and contribute $350B to the economy.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Chicago Office Deals Feature More Scrutiny, Added Tenant Protections

HUD Launches Investigation Into Wells Fargo's Efforts To Support Black Homeownership

Delaware Statutory Trust Fundraising Jumps 27% From 2025

Bank OZK Shares Drop After Citi Flags $915M Mortgage Concern

Tishman Speyer Retakes Chrysler Building, Plans $235M Renovation

Why Hospitals Must Be Designed For Talent Retention

Activist Investor Buys Stake In Empire State Building Owner

Soaring Yields Strand REITs In M&A No-Man's-Land

San Francisco Office Market Climbs, Fueling Demand For Large Blocks, Luxury Space

How UK Investment Giant L&G Plans To Grow Its U.S. Multifamily Holdings

Properties Owned By REIT Accused Of Fraud To Be Auctioned Off

LS Power Raises $6B To Capitalize On Data Center Power Demand