Apple is boosting its investment in the U.S. to over $430 billion over the next five years and is bringing some 20,000 new jobs to the country.
Apple CEO Tim Cook said in a press release on Monday (April 26) that the tech firm is “doubling down” on its pledge to invest in technology and manufacturing, with a “generational investment” intended to extend across communities in all 50 states. “We’re creating jobs in cutting-edge fields — from 5G to silicon engineering to artificial intelligence — investing in the next generation of innovative new businesses, and in all our work, building toward a greener and more equitable future,” he said.
Over the previous 36 months, Apple invested in the U.S. beyond what the company originally set aside to satisfy its five-year nationwide goal of $350 billion. Over the next five years, the tech giant is planning to invest 20 percent more in an effort to boost innovation and financial benefits in every U.S. state.
The Silicon Valley iPhone maker supports in excess of 2.7 million jobs in the U.S. via a number of modalities — overall employment, supplier spend, manufacturing support and iOS developer jobs. Apple said it is the country’s biggest taxpayer, with close to $45 billion in taxes contributed in domestic corporate income taxes since 2016, according to the release.
Investments in individual states include construction for Apple’s $1 billion Austin campus, which is already underway. Apple’s planned $430 billion in new contributions to the U.S. economy will also include data center investments, direct spending with suppliers and additional Apple TV+ productions in 20 states.
The iPhone maker recently held its annual “Spring Loaded” event and announced a number of new offerings, including a new screen for the iPad Pro and enhancements for the iMac. Apple TV is also slated for feature-rich upgrades. Held at Apple Park, the company’s Silicon Valley headquarters, the event was centered around new tech, particularly the company’s M1 chip.
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