North Carolina Approves Apple Tax Break

| News

North Carolina lawmakers approved a bill on Monday that will provide special tax incentives to one company, presumably Apple, to build a US$1 billion server facility in the state. The legislation still requires the governor's signature and he is expected to sign the bill into law shortly, according to the Associated Press.

Even though the state isn't officially saying that the tax breaks are aimed at Apple, word has leaked out from the government that the legislation is aimed squarely at drawing the Mac and iPod maker's new server farm into the state.

The deal could amount to about $46 million in tax savings for Apple, but the company will have to complete its $1 billion investment within nine years. The server farm will be located in a region that's suffering from one of the highest unemployment rates in the state, and should help bring new jobs into the area.

Apple hasn't commented on whether on not it is planning to build a server farm in the state.

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