Apple has paused development of its $552 million RTP campus as it seeks to delay the construction timeline in the state by four years.
Poole College Economics Professor Steve Allen pointed to the general trend in the tech industry which saw major hiring in the immediate aftermath of the COVID-19 pandemic, a pattern which has largely dissipated.
“The technology uncertainty is one thing that’s a driver. Another thing that’s a driver is regulatory uncertainty,” Allen said. “I think clearly the people who are in charge of the real estate part of this deal and the people who were counting on the employment projections are pretty upset. We’re not talking about a 60-day delay because permitting in Wake County is a little bit slow. As you said, we’re talking about a significant four-year delay.”
Read more from ABC-11 News.
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