Inside apple office building4/29/2024 “And of course, they’re a major employer – so that’s another benefit to the county. Moreover, Apple benefits from a tax-incentive deal with the city of Cupertino, which has given almost $70m in sales-tax collections back to the company over the past 20 years, Bloomberg reported.Īpple is the largest property taxpayer in the county, according to Stone. It also invested $75m to improve infrastructure and ease traffic in several nearby cities. As part of its Apple Park development agreement, the company paid $5.85m into an affordable housing fund. The city of Cupertino directly receives 6% for discretionary spending. From the inside, the lobby of the Steve Jobs Theater looks a bit like a spaceship as well. An additional 15% funds the local fire fighting services. Apples main office building, shaped like a ring and meant to eventually house 13,000 employees. The largest chunk of it – about 25% – helps fund the local elementary school. Apple is expanding into new offices in Cork. Based on the valuation by Santa Clara county, Apple will owe over $40m in property taxes each year in California.īut critics have argued that the amount – a tiny fraction of the company’s revenue – does not offset its contribution to the housing crisis and homelessness. Apple Cork New (Image credit: Horgans Quay) What you need to know. It was originally estimated that the campus would cost just half a billion dollars to put together. The company is required to pay about 1% in property tax, per California law. The massive ring-shaped building is now an iconic symbol of the Apple brand and is a fantastic testament to the companys dedication to effortless design, sustainability, and the future of technology. Usually, the market value of a building is similar to the cost of its construction plus the land it occupies, said Santa Clara county assessor Larry Stone. The Marina Bay Sands resort in Singapore cost about $5.5bn. Apple Park: Inside Apples 5 Billion Headquarters - Technology firms have engineered incredible growth in the past decade and they’ve left their mark on u. By contrast, the world’s tallest building – the Burj Kalifa in Dubai – cost $1.5bn. “And so we were able to put a number on it.” “But at the end of the day, it’s an office building,” Ginsborg said. The Apple Campus is the former corporate headquarters of Apple Inc. The intricately designed ring – which incorporates treated glass, and specially designed tiles – is surrounded by pines from the Mojave Desert. “I mean, every bit of it is custom,” he said. These are the first images of the offices at Apple ’s new 500,000 sq ft London headquarters at the heart of Battersea Power Station since they opened earlier this year.
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