Apple has announced a new set of investments in favor of its commitment of support the American economy and its workforce. Apple is already responsible for creating and supporting over 2 million jobs across the United States and expects to generate even more jobs as a result of the initiatives being announced.
It is foreseen that by combining new investments and Apple’s ongoing pace of spending with manufacturers and domestic suppliers — an estimated $55 billion for 2018 — Apple’s direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of Apple products.
Planned capital expenditures in the US, investments in American manufacturing over five years and a record tax payment upon the repatriation of overseas profits will account for approximately $75 billion of Apple’s direct contribution.
Apple’s Responsibility Towards Nation
Apple’s CEO, Tim Cook said that Apple is a success story that could only have happened in America, and Apple is proud to build on its long history of support for the US economy. He also shared that Apple believe in the power of American ingenuity. The company is focusing on investing on the areas, which can have direct impact on the job creation. “We have a deep sense of responsibility to give back to our country and the people who help make our success possible,” Tim adds.
Apple plans to invest over $30 billion in capital expenditures in the US over the next five years. The plans will create over 20,000 new jobs through hiring at existing campuses and opening a new one. Apple already employs 84,000 people in all 50 states. The company will announce the location of the new campus later this year.