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Apple Economic Impact on Cupertino

Apple Economic Impact on Cupertino

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Published by Chris O'Brien
Apple released a study examining the impact its new campus will have on the Cupertino economy.
Apple released a study examining the impact its new campus will have on the Cupertino economy.

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Published by: Chris O'Brien on Jun 04, 2013
Copyright:Attribution Non-commercial

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10/15/2013

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Economic and FiscalImpacts Generated byApple in Cupertino –Current Facilities andApple Campus 2
Prepared for: Apple Inc.
May 2013
 
 
TABLE OF CONTENTS
Page
I. Introduction 1
A. Apple’s Current Facilities in Cupertino and the Apple Campus 2 Building Program 1B. Growth Scenario Evaluated in the Fiscal and Economic Report 3
II. Executive Summary 4
A. Full-Time Jobs 4B. Employee Income 5C. Apple’s Support of Other Local Businesses 5D. Recurring Annual Fiscal Impacts on the City of Cupertino 6E. Recurring Annual Property Tax Revenues to Local Public Agencies.....................6F. Recurring Annual Sales Tax Revenues to the Santa Clara Valley TransportationAuthority (VTA)................................................................................................................7G. Construction Jobs 7H. Construction-Related One Time” Revenues to the City of Cupertino 7I. Construction-Related One-Time” Revenues to the VTA 8 J. Apple Investment in Public Improvements & Community Benefits 8
III. Findings and Conclusions 10
A. Recurring Annual Economic Impacts 10B. Recurring Annual Fiscal Impacts on the City of Cupertino 13C. Construction Period Impacts 17D. Local Property Tax Revenues to Service Districts 19E. Sales Tax Revenues to the Santa Clara Valley Transportation Authority (VTA) 19F. Economic Impacts on the Cities of Santa Clara and Sunnyvale 20
IV. Methodology and Assumptions 23V. Indirect and Induced Impacts and the IMPLAN Model 30
A. IMPLAN Model Description 30B. Application of the IMPLAN Model to Estimate Job and EmployeeCompensation Impacts31
VI. Limiting Conditions 32
 
 
Supporting Tables
 Table 1: Summary Base and Projected Cupertino-based Apple Employment Table 2: Summary Base and Projected Cupertino-based Apple Employee Salaries Table 3: Place of Residence of Cupertino- based Apple Employees Table 4: Base and Projected Cupertino-based Apple Employment Table 5: Base and Projected Cupertino-based Apple Employee Salaries Table 6: Economic Impacts – Cupertino Table 7: Economic Impacts – Sunnyvale Table 8: Economic Impacts – Santa Clara Table 9: Economic Impacts – Cupertino, Sunnyvale, and Santa Clara Table 10: Economic Impacts – Santa Clara County Table 11: Summary Estimated Annual Fiscal Impact on the City of Cupertino Generatedby Apple Table 12: Base and Projected Cupertino-based Apple Employee Resident Equivalents Table 13: City of Cupertino Demographic Data Table 14: City of Cupertino Revenue Source Assumptions 2010/11, 2012/13 Table 14a: Annual City of Cupertino Revenues Generated by Apple Table 14b: Assessed Property Values and Property Tax Revenues - Cupertino PropertiesOwned or Leased by Apple Table 14c: Annual Sales and Use Tax Revenue to City of Cupertino Generated by Apple Table 14d: Annual Sales Taxes to City of Cupertino Generated by the Purchases of AppleEmployee Residents Table 15: City of Cupertino Service Expenditure Assumptions 2010/11, 2012/13 Table 15a: Annual City of Cupertino Service Expenditures Generated by Apple Table 16: Estimated Apple Campus 2 Construction-Related Government Fee Payments Table 17: Summary Annual Sales and Use Tax Revenue to the Santa Clara Valley Transportation Authority Generated by Apple Sales in Cupertino Table 18: Annual Sales and Use Tax Revenue to the Santa Clara Valley TransportationAuthority Generated by Apple Sales in Cupertino
 Appendix Tables
A-1: Summary of City of Cupertino General Fund Revenue Sources FY 2011/12, FY 2012/13A-2: Summary of City of Cupertino General Fund Budget Expenditures FY 2011/12, FY 2012/13A-3: Cupertino Real Estate Owned or Leased by Apple in 2010, 2012A-4a: Taxable Retail Sales Import and Export 2010A-4b: Taxable Retail Sales Import and Export 2012A-5: Taxable Retail Sales Generated by 2010 Cupertino Facilities EmployeesA-6: Taxable Retail Sales Generated by 2012 Cupertino Facilities EmployeesA-7: Taxable Retail Sales Generated by Future Cupertino Facilities with AppleCampus 2 EmployeesA-8: Annual Sales Tax Revenues Generated by Cupertino-based Apple Employees;Cities of Cupertino, Sunnyvale, and Santa Clara

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