Apple is bringing back some of its money from abroad and investing in the United States. Something which US President Donald Trump is ecstatic about. Despite the good news, there are some viewing this with a negative aspect involved, but regardless, $350 billion and 20,000 new jobs is always better for any economy.
Over the next five years, according to latest revelations by Apple, the company is going to pump $350 billion into the US economy. This will include a brand new Apple facility, along with the creation of 20,000 more jobs which the tech company will support. It should be kept in mind that Apple is already responsible for “supporting over 2 million jobs across the United States”.
$55 billion of that Apple investment will be spent in 2018 alone. The US economy will see a major breakthrough because not only is Apple investing $350 billion in the next 5 years, it is also going to be paying a whole lot of tax on it and tax revenue from employee salaries and product sales.
“Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the US economy,” said Tim Cook, Apple’s CEO. “We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness. We have a deep sense of responsibility to give back to our country and the people who help make our success possible.”
Here’s what the US President had to say about it:
I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA! https://t.co/OwXVUyLOb1
— Donald J. Trump (@realDonaldTrump) January 17, 2018
Where Will Apple Be Opening Up Next?
The next facility of Apple is yet to be disclosed. These steps are seen by many as to compete against Amazon, which is rapidly expanding and investing into the United States. Apple just opened up a new facility in downtown Reno, Nevada.
Apple is set to announce the next location of its new campus later on this year. Experts are sure that it will be before mid-2018.
$30 billion is expected to go towards the funding of a number of new projects, which will include the new campus. $10 billion is also set to be invested by Apple for new data centers in the United States along with increasing the current advanced manufacturing fund from $1 billion to $5 billion.
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Apple to Continue Supporting Technical Education
Not only is Apple set on creating a new campus, more jobs and products made in the United States, educating the coming generation is also high on its list of priorities. Apple has always had a focus on funding and encouraging technical education. Which is why Apple will expand initiatives to support coding education and programs focused on what it calls STEAM (Science, Technology, Engineering, Arts and Math).
Apple pointed out that the need to bring more programmers into the field is of dire importance. This can be seen by the latest data from the US Bureau of Labor Statistics, saying that there will be more than 1.4 million software development jobs left vacant by 2020 due to the lack of people to fill them.
Whatever side of the party line you are, Apple bringing in $350 billon to the United States is a great step in the right direction.