It could still be a bad deal, but there is not really an honest attempt to figure that out here.
Specifically this claim: "There is virtually no association between economic development incentives and any measure of economic performance."
The article states that the 1.3 billion dollar data center will get $39 million tax break up front on hardware, and another $190 million abatement over 20 years from the city. They will invest at a minimum $20 million into Waukee, a city of 20k people, and expect 50 permanent employees + ancillary services.
Waukee will see a construction boom, higher employment, and more tax revenue. The state will see a reduction in the data center decline + additional tax revenue.
Unless they were sure Apple had no other option but Iowa for this project, the state and community were better off making a deal than not.
The city will also now have a major corporation throwing its weight around to get its way; one with no loyalty to the residents or their concerns.
Iowa can't do that. But the USA can. If another state (instead of Iowa because of the tax break) has gotten the revenue of that taxes and the federal government gets it from that state. The USA can give that money to the Iowa residents.