APPLE — A further $240 million expansion of Apple’s Austin-area campus was announced in January.
Google, Amazon, IBM and Meta are four of the tech majors that, along with smaller recent start-ups Cart.com and BigCommerce, have announced significant layoffs over the past few weeks that total in the tens of thousands.report released by the Texas Workforce Commission , the area’s unemployment rate of 2.7 per cent is lower than the rest of the state and the country.despite the national headlines, Austin’s business diversity will likely minimize the overall layoff numbers.
Even so, regional tech layoff numbers remain low. For example, Apple has not yet announced layoffs for 2023. Meanwhile, Tesla continues to confound, with conflicting announcements regarding employment and construction investment in the Austin area. Similar construction investments resulting from the federal government’s CHIPS Act and Inflation Reduction Act promoting domestic semi-conductor manufacturing have some Texas observers predicting a further $60 billion in construction spending.
The Morgan Group’s $70 million project, known as Pearl Burnet MF, would reportedly rise on a one-acre lot and comprise over 400,000 square feet, including 345 residential units.