14 DAY TRIAL // Apple announced on Wednesday that they are pledging $350 billion to the US economy for the next five years to accelerate investment and job creation.
The Cupertino-based company is announcing today a new set of investments that will build on their commitment to support the US economy and its workforce. These include direct employment, collaboration with Apple’s domestic manufacturers and suppliers, as well as acceleration of the fast-growing digital app economy. The company is already proud to have created and supported more than 2 million jobs for Americans since its foundation.
"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."
Apple plans to create 20,000 new jobs over the next five years
From the $350 billion, Apple estimates that $55 billion will be contributed to the US economy in 2018, and they will invest over $30 billion in capital expenditures. What's more interesting is that Apple pledges to create 20,000 new jobs in the US over the next five years as they plan on opening their new campus in a location that will be announced later in the year. Apple currently employs 84,000 people across the United States of America.
Apple also said that they plan on investing over $10 billion of their expanded capital expenditures in data centers across the US. The company, which is currently the biggest taxpayer in the US, said in today's press statement that they anticipate the repatriation of tax payments of approximately $38 billion dollars, thus making it the largest tax payment ever made, according to Apple. This is required as the US tax law was recently changed in this regard.