Apple plans to boost its workforce by 46 percent to 23,400 by the time the firm's new headquarters is complete in 2016.
The iPhone and iPad maker estimates that salaries will rise in tandem with the expanded workforce, and approximately $2.9 billion will be paid out in the next three years, according to Bloomberg. The data was included in Apple's recent 82-page report that documents the economic impact of the ambitious Campus 2 plan.
Apple's new campus, dubbed the "spaceship" due to its distinctive design, will include a donut-like shape to house staff, R&D labs, a corporate auditorium and parking buildings. In addition, the headquarters will encompass 650,000 sq. ft. of solar panels and wil use a number of renewable energy sources. Apple's headquarters will be closed to the public and have a secured perimeter.
The new headquarters is expected to open in mid-2016.
The Cupertino base will include 2.8 million square feet of office space and over 175 acres of greenery for staff to roam at will. There is no straight glass in the architecture, instead, the last project of ex co-founder Steve Jobs will feature curved exterior walls made of concave glass that rise up 40 feet.
According to the report, the construction of the campus will result in over 9,000 construction jobs and will generate $38.1 million in construction fees for the city.
Apple has recently launched a bond sale in order to borrow $17 billion, a plan which will allow the iPad and iPhone maker to buy back $60 billion in shares and raise shareholder dividends over the next two years as part of a $100 billion capital return program for investors. By offering bonds, the tech giant has been able to avoid hefty tax bills by dipping into funds kept off U.S. soil. Apple CEO Tim Cook appeared in front of Congress last month to explain the company's tax practices to officials.
Image credit: Apple