Apple eyes investing $430B in US economy

Apple has announced an acceleration of its US investments, with plans to make new contributions of more than $430 billion and add 20,000 new jobs across the country over the next five years, Report informs referring to the company’s message.

Apple is now raising its level of commitment by 20 percent over the next five years, supporting American innovation and driving economic benefits in every state. This includes tens of billions of dollars for next-generation silicon development and 5G innovation across nine US states.

“At this moment of recovery and rebuilding, Apple is doubling down on our commitment to US innovation and manufacturing with a generational investment reaching communities across all 50 states,” said Tim Cook, Apple’s CEO. “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.”

As part of its investments and expansion, Apple plans to invest over $1 billion in North Carolina and will begin construction on a new campus and engineering hub in the Research Triangle area. The investment will create at least 3,000 new jobs in machine learning, artificial intelligence, software engineering, and other cutting-edge fields.

Apple’s $430 billion in contributions to the US economy include direct spend with American suppliers, data center investments, capital expenditures in the US, and other domestic spend - including dozens of Apple TV+ productions across 20 states, creating thousands of jobs and supporting the creative industry.