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Everything we know about: Apple coming to Iowa

Apple coming to Iowa
August 26, 2017

The announcement Thursday that tech-giant Apple is building a $1.3 billion data center project in Iowa attracted a lot of attention to the state of Iowa.

Apple announced it will build two data centers on 2,000 acres of land that are scheduled to be finished in January of 2021. The buildings will be located one mile West of Waukee and will create 50 jobs that pay a minimum of $29.12 per hour.

Each building will use 100 percent renewable energy.

State and local officials awarded Apple with more than $207 million in incentives Thursday morning to build the proposed data center.

The Waukee City Council approved a 71 percent property tax abatement over 20 years for Apple—an incentive worth $188,239,943— and the Iowa Economic Development Authority board approved $19.65 million in investment tax credits.

The incentive plan became a polarizing topic across the country.

This is a list of what has been written about Apple coming to Iowa and the fallout from the announcement Thursday.

It will be updated daily as more becomes available.

October 6

Winners (Apple, Waukee) losers (Iowa) in Apple deal – CityView

October 1

Iowa dramatically outspends Minnesota to lure companies like Amazon – StarTribune

September 21

$200 million Apple deal debated during Iowa Ideas panel – TheGazette.com

September 3

Will Iowa’s giant data centers spur growth in technology jobs? – The Des Moines Register

September 1

Apple is ready to play politics in Iowa – The Ringer

August 31

Letter to the Editor: Apple deal gets an ‘A’ for return on investment – The Des Moines Register

August 29

Letter to the Editor: Apple Waukee data center deal a win-win for Iowa – The Des Moines Register

Iowa’s handout to Apple illustrates the folly of corporate wellfare deals – The Los Angeles Times

August 25

Column: Apple breaks new ground in squeezing locals for huge tax breaks while offering almost no jobs – Los Angeles Times

Editorial: Where is the debate over Apple giveaway and other tax breaks? – The Des Moines Register

Iowa Republican budget leader ‘not convinced’ on Apple deal – The Des Moines Register

Letter to the Editor: Apple’s 50 jobs got priority over nursing home oversight – The Des Moines Register

Tim Cook is not running for President – USA Today

Apple CEO Tim Cook responds to Trump, creates more jobs in US – The Indian Express

August 24

Tim Cook is welcomed in Iowa – clayandmilk.com

Apple will open data centers in Waukee – clayandmilk.com

Apple CEO Tim Cook touts its new data center jobs as ‘future’ of America – CNBC

Apple CEO Tim Cook on Iowa, RAGBRAI and The Iowa State Fair – The Des Moines Register

 

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Everything we know about: Apple coming to Iowa | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.
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