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Apple Commits $430 Billion to US Investments Over Next 5 Years

Apple Commits $430 Billion to US Investments Over Next 5 Years

Apple today 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.

The $430 billion investment will be spent on various projects including supplier relationships, data centers, and research into 5G modem, chip silicon, and other research.

The $430 billion in expenditures will be a nice bump up from the company’s original five-year spending goal of $350 billion set in 2018.

“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.”

Apple says it supports more than 2.7 million jobs across the country through direct employment, its spending with US suppliers and manufacturers, and  also developer jobs in the “thriving iOS app economy.” The Cupertino firm also announced that it has created thousands of jobs in creative industries thanks to dozens of Apple TV+ productions in the United States.

Apple says it is the largest taxpayer in the US and has paid almost $45 billion in domestic corporate income taxes over the past five years alone.

The press release outlined new examples of capital investment projects in development. Upcoming investments include a new campus and in North Carolina (focusing on machine learning and artificial intelligence), a $100 million fund to support schools and community initiatives in the greater Raleigh-Durham area and across the state, and will a contribution of over $110 million in infrastructure spending to the 80 North Carolina counties with the greatest need to go toward broadband, roads and bridges, and public schools.

The press release also lays out investments in other parts of the U.S.:

  • California: Apple continues to expand its teams across the state and now expects to grow its San Diego team to more than 5,000 employees by 2026 — a 500 percent increase from its 2018 goal. The company will also grow its teams in Culver City to more than 3,000 employees by 2026, expanding its state-of-the-art campus with additional space for these employees and more.
  • Colorado: Apple is growing its engineering team in Boulder, and expects to have close to 700 employees at its offices in the region by 2026.
  • Massachusetts: In 2018, Apple announced it would add hundreds of new jobs in the Boston metro area. With around 200 team members already working in the region, Apple plans to add several hundred new jobs by 2026.
  • Texas: Construction for Apple’s $1 billion Austin campus is underway, with employees expected to start moving into the new space next year.
  • Washington: Apple’s LEED (Leadership in Energy and Environment Design) Platinum office space in Seattle’s South Lake Union neighborhood recently opened for the company’s 1,000 local employees, with plans to add at least another 1,000 team members.
  • Iowa: The design process is underway for Apple’s new data center, which is expected to create over 500 construction and operations jobs in Waukee. Apple is supporting community infrastructure programs, including the creation of Triumph Park, a 66-acre recreation area.