NC House OKs Apple-friendly Tax Incentives

North Carolina's House of Representatives approved a bill that could give Apple special tax incentives to build a US$1 billion server farm in the state. The state Senate already approved the measure, but has to vote on it again for final approval because of changes the House made, according to The News & Observer.

The House version of the bill limits the tax incentives to a single unnamed company that is widely assumed to be Apple.

If Apple chooses a North Carolina location for its server farm, locals would see about 50 new jobs created initially with the potential for an additional 250 contractor jobs in one of the state's poorest regions.

The tax incentives would require Apple to commit to investing $1 billion in the state over a nine year period. The company's state tax savings would hit $3 million a year and potentially ramp up to $12.5 million a year. Tax savings could reach $300 million over the next 30 years, too.