CARSON CITY, Nev. (AP) - The Nevada Board of Economic Development endorsed $89 million in tax abatements to lure Apple Inc. to Reno, though their action was ceremonial because they lacked authority to change the deal.
Gov. Brian Sandoval on Tuesday called the agreement a "win" for the state.
A state law approved last year gives the executive director of the Economic Development agency wide discretion to negotiate deals with companies that meet certain criteria.
Director Steve Hill told the board that once the local governments of Washoe County and the city of Reno signed off on the tax abatements for Apple, the agreement was essentially cast in stone.
Apple plans to build a data center and purchasing center in Reno-Sparks. It says it will invest $1 billion over the next 10 years.
The Associated Press