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

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

How Long Island Projects Can Cut Through Red Tape And Community Opposition To Cross The Finish Line

'Redefining Industry Standards': RCG's 3-Pronged Approach To Building Automation

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands