Mikey Campbell
Following comments from CEO Tim Cook on Wednesday, Apple on Thursday confirmed it will not hold a public auction to decide the site of a new U.S. campus that will be built in part using money repatriated from the company's overseas cash hoard.
In a statement to Reuters, an Apple representative confirmed the company does not plan to hold a public bidding process for the planned campus, which will initially be populated by AppleCare workers.
The announcement echoes statements Cook made in an ABC News interview on Wednesday, where the Apple chief said he does not want "an auction kind of process" to decide the location of the upcoming campus.
"We've narrowed the list a lot," Cook said of candidate sites. "We wanted to narrow it so we prevent this auction kind of process that we want to stay out of."
With millions or billions of dollars in investment capital on the line, a number of U.S. cities are throwing their hat into the ring. According to the report, Chicago Mayor Rahm Emanuel is among those pushing to be in Apple's good graces.
"We're going to go compete and were going to put our best foot forward," Emanuel said.
Apple revealed plans to build a new U.S. campus on Wednesday as part of a huge $350 billion infusion into the U.S. economy. The company remains mum on the exact size of the facility, and has deferred comment on a final location to later this year.
As noted by the report, Apple's non-bid strategy runs counter to another high-profile campus project currently underway at Amazon. The online retail giant is accepting bids for a $5 billion headquarters dubbed "HQ2," which will house up to 50,000 employees. On Thursday, Amazon said it had narrowed down the list of candidate locations to 20 cities, 19 in the U.S. and Toronto.
Alongside the planned campus, Apple is earmarking $10 billion for data center expansions, $4 billion for its Advanced Manufacturing Fund and an undisclosed amount for educational initiatives. The influx of cash is expected to generate some 20,000 jobs and pump $38 billion in taxes into federal government coffers.
William Gallagher
Wesley Hilliard
Malcolm Owen
Christine McKee
Charles Martin
13 Comments
No comments?!! Whassa matter, can't reach your keyboards from the fetal position?
Go Apple! Continuing to hoe its own row, taking the best route for predicting the future—by CREATING it!!!
Toronto? What about Vancouver? :)
(And, would those be US jobs then?)
Looks like the new tax plan is enjoying some success... but I'm sure the gov't will find a way to waste any gains as they always seem to. How about some new missile defense systems? https://congressionaldish.com/cd165-christmas-dingleberries/
I find Apple’s approach much more dignified. You know that the city that lands a major relocation or new facility like this has basically bent the local/county/state taxpayers over the table to close the deal. Like Wisconsin and Foxconn. When it’s done out in the open with all of the other contenders watching it’s somewhat demeaning, sets unrealistic expectations, and demoralizes the “losers.” It takes on the air of a farcical beauty contest without any bribery restrictions. Sorry.
Seriously thinking about launching an auction in which city I should do my shopping next time.
I agree with what is said above about auctions vs no auction. Provided the required level of transparency is maintained.