'The opportunities are amazing:' Apple investment goes well beyond tech jobs

The announcement that Apple will build a $1 billion campus in Research Triangle Park resonated well beyond the technology community on Monday.

"I wanted to tell everyone how excited I am about this opportunity," said Dr. Paulette Dillard, president of Shaw University.

Apple picks Triangle for $1 billion campus, thousands of high-paying new jobs

Apple has pledged to invest hundreds of millions of dollars in education in North Carolina to train the workforce it needs for thousands of jobs in artificial intelligence, machine learning, software engineering and more.

"Apple knows what it wants from its employees, and Apple knows what it needs to be state of the art," Dillard said. "They work with us on that level to be able to have those resources, and it saves time and money from my perspective to be able to actually receive what I need to set up the classroom or training."

Dillard said as an Apple partner Shaw will be in line for devices, training and consultation.

She anticipates that student interest in Shaw and other area universities will increase as well, with Apple as the draw.

"A student would be nuts not to go to school in the Raleigh area," Dillard said. "The opportunities are amazing."

Kevin M. Guskiewicz, chancellor of the University of North Carolina at Chapel Hill, said, "Carolina will play an important role in preparing the workforce for Apple as a leading global public research university and will partner with Apple through strategic research initiatives. ... This aligns perfectly with our two-year planning for the launch of our new data science initiative, which will be formally announced in the coming weeks."

Dr. Scott Ralls, president of Wake Technical Community College, was among the academic leaders who recognized the opportunity Apple presents to job seekers of the future.

“This announcement means incredible economic impact for our state and outstanding job opportunities. We are excited to work with Apple to maximize those opportunities for the people of our region," Ralls said.

Dr. Randy Woodson, chancellor of North Carolina State University, said he sees "extraordinary opportunities for N.C. State’s skilled graduates and advancing the state's economy."

"We stand ready to provide the kind of human talent and ingenuity that is a hallmark of this iconic company," added Peter Hans, president of the University of North Carolina System.

North Carolina State University economist Dr. Mike Walden said Apple's decision will attract other employers to the state and ultimately double the jobs coming to the Triangle.

"You can usually double [Apple's job announcement of 3,000] when you take into account all the other firms that will come here because Apple comes," Walden said. "We will celebrate this for years to come. It tells the world that North Carolina – specifically the Triangle – is the place for economic development in the post-pandemic world."

Charles Godwin, owner of Taziki's restaurant in RTP is looking forward to thousands of new diners.

When the pandemic hit and many people started working from home, Taziki's saw lunch traffic dip to almost zero. Godwin cut the staff at his Cary location to three. But the addition of 3,000 Apple employees over the next two decades have him ready to grow again.

“This validates the idea that this is a major player in tech,” he said.

The state law that allows for tax incentives for big projects like the Apple campus allows North Carolina to tap state tax withholding for each of Apple's employees and direct the money into a fund which provides for broadband internet, roads, bridges and public school investments in 80 counties. Over 39 years, if Apple meets its job creation and investment targets, that account will see an additional $112.4 million to help rural communities build infrastructure and attract companies to create jobs in their communities.

"New tax revenue generated by Apple's new campus and the high-paying jobs that come with it will help fund schools, colleges, roads and bridges from the mountains to the coast," said state Sen. Phil Berger.

The $112 million is set to be phased in over 39 years with an average injection of $2.87 million per year into the utility account.

Gov. Roy Cooper added, "Apple is showing that they're just not creating jobs and building a new campus. They want to be a committed partner with our state for the long term."

"When Apple creates those jobs per this agreement, it has the opportunity to get tax reimbursements of up to almost $846 million over 39 years," he said. In terms of dollars, it is the state's largest incentives deal to date.

If Apple meets its commitments, a Wake County spokeswoman said, the company would pay only half of the taxes it would without incentives.

Brian Balfour, senior vice president of research at the John Locke Foundation, pointed out that Apple's advantages are not available to all North Carolina businesses.

"Imagine being a small business owner who has paid taxes in North Carolina for years hearing that one of the largest corporations on the planet will be getting a massive tax break," he said.

Apple’s investment will mean big dollars for the state, according to Dr. John Connaughton, an economist and professor at UNC Charlotte’s Belk College of Business.

“By 2029, Apple’s investment and job creation is expected to generate at least $1.5 billion annually for the state of North Carolina,” Connaughton said in a statement provided by Apple.