“Apple said building $1 billion server farm”

The deal would give the tax breaks to companies with a minority market share in North Carolina, but with a disproportionately large amount of property and staff located in the region. Apple would stand to save as much as $46 million in the space of 10 years but, in return, would have to invest $1 billion within nine years and locate itself in one of the state’s poorer counties.

Now that’s a good use of the billions Apple has in the bank (unlike most web 2.0 acquisition rumors). Just a little something so MobileMe can finally graduate to functioning beta.