Apple Inc. (NASDAQ:AAPL) has paraded its job creation and other economic impacts around the U.S. over the last several months, especially as its tax practices are scrutinized. President Obama commended the company earlier this year for creating jobs in the U.S.
Now the company is underlining its good citizenship through jobs creation yet again—this time through a new report compiled by Keyser Marston Associates. Working with Apple Inc. (NASDAQ:AAPL), the firm takes a closer look at the direct impact Apple has had on its hometown of Cupertino, Calif.
The Bottom Line On Apple Jobs In Cupertino
According to the report, Apple Inc. (NASDAQ:AAPL) is Silicon Valley’s second biggest tech employer. It has about 16,000 full time employees based in Cupertino. In addition, the firm says more than 12,000 other jobs in the Santa Clara County area are indirectly related to Apple’s and its employees’ expenditures.
Apple is currently planning a significant expansion in Cupertino as well. When Apple Campus 2 is ready in 2016, the firm predicts that 7,400 more Apple jobs will be created, swelling the company’s Santa Clara County area jobs to more than 41,000 employees. The firm also estimates that for every one new Apple job, there are .75 new jobs indirectly created in the Santa Clara County area.
In addition, the construction of Apple Campus 2 will also create about 9,200 “high quality, high wage construction jobs” over the next three years. In the firm’s estimation, the new campus will generate 12,600 full-time jobs in Santa Clara County during the construction period.
Apple’s Tax Impact On Cupertino
Of course no report about Apple Inc. (NASDAQ:AAPL)’s economic impact would be complete without a mention of the taxes the company pays. This report indicates that the company will contribute $9.2 million in annual tax revenue to Cupertino in the 2012 / 2013 fiscal year. That’s about 18 percent of the city’s annual general fund budget.
The tech giant paid about $25 million in local property tax revenue to Cupertino in 2012, and with the addition of Apple Campus 2, it will add approximately $32 million more in property tax revenue. The firm estimates the company’s total recurring property tax revenues to be more than $50 million annually.