Apple revealed today that it will increase its investments in the United States by more than $430 billion over the next five years, creating 20,000 new jobs throughout the region. Apple’s contributions in the United States have greatly exceeded the company’s initial five-year target of $350 billion set in 2018. Apple is increasing its contribution to American innovation by 20% over the next five years, resulting in economic benefits in every state. This includes tens of billions of dollars for 5G innovation and next-generation silicon production in nine US nations.
Tim Cook, Apple’s CEO, said, “At this time of rehabilitation and reconstruction, Apple is doubling down on our promise to US technology and manufacturing with a generational transformation reaching neighbourhoods across all 50 states.” “We’re generating employment in cutting-edge fields like 5G, silicon engineering, and artificial intelligence, as well as investing in the next wave of creative new companies and working for a greener, more equitable future in all of our work.”
Today, Apple supports more than 2.7 million workers around the country by direct employment, spending with the US suppliers and distributors, and developer jobs in the booming iOS app economy. Apple is the country’s biggest employer, having paid almost $45 billion in domestic corporate income taxes in just the last five years.
Apple’s $430 billion in economic benefits to the United States include direct spending with American suppliers, data centre acquisitions, capital expenditures in the United States, and other domestic spending — including hundreds of Apple TV+ productions in 20 states, which have created thousands of jobs and boosted the creative industry.
Apple plans to spend over $1 billion in North Carolina as part of its expansion efforts, and will begin construction on a new facility and innovation centre in the Research Triangle region. At least 3,000 new jobs in neural networks, artificial intelligence, software development, and other cutting-edge fields will be created as a result of the expenditure.
Apple will also establish a $100 million fund to help schools and community projects in the greater Raleigh-Durham region and throughout the state, as well as a $110 million infrastructure investment in the 80 North Carolina counties with the greatest need — money that will go into telecommunications, roads and bridges, and public schools. Apple’s investments are estimated to produce over $1.5 billion in annual economic benefits for North Carolina once they are up and running.
Apple is on track to reach its target of 20,000 new jobs in the United States by 2023, which it set in 2018. Apple has set a goal of creating 20,000 new jobs in states around the country over the next five years as part of its new pledge. In addition, Apple has met or exceeded its 2018 recruiting targets in Miami, New York, Pittsburgh, and Portland, Oregon. Apple is committed to growing its teams and operations in the US in an environmentally friendly manner, with an emphasis on renewable energy and green innovation.
