Apple to inject $350 billion into the US economy over the next five years

By Shawn Knight · 17 replies
Jan 17, 2018
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  1. Apple has fielded plenty of criticism over the large cash reserves it stores internationally. On Wednesday, the Cupertino-based company announced plans to bring some of that money home through a set of investments that’ll benefit its home economy.

    The company said it will concentrate on three areas it feels have had the greatest impact on job creation: direct employment by Apple, spending and investing with domestic suppliers and manufacturers and fueling the fast-growing app economy. Over the next five years, Apple anticipates pumping more than $350 billion into the US economy.

    Details were a bit sparse but Apple did say it plans to invest over $30 billion in capital expenditures over the next half decade and create more than 20,000 new jobs, both through hiring at existing campuses and opening a new one.

    Apple Park, the brainchild of co-founder Steve Jobs, opened to employees in April 2017. The new facility will be announced later this year, we’re told, and will initially house customer-facing technical support staff.

    Apple also anticipates investing heavily in data centers across the country and is increasing the size of the Advanced Manufacturing Fund it announced last spring from $1 billion to $5 billion.

    That’s a lot of money no matter how you slice it, especially considering it doesn’t include Apple’s ongoing tax payments, tax revenues generated from employees’ wages and the sale of Apple products.

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    Last edited by a moderator: Jan 17, 2018
  2. David from LA

    David from LA TS Rookie

    One of the better parts of the tax reform, decreasing the effects of double taxation at the c level. Repatriating cash is going to be a theme going forward and I wouldn't be surprised if companies start on-shoring IP rather than off-shoring them in the past.
     
    Reehahs likes this.
  3. QuantumPhysics

    QuantumPhysics TS Addict Posts: 198   +118

    America's tax policy will continue to keep the people divided and perpetuate a permanent underclass.

    I'm fortunate to earn better-than-average, but eventually, my friends and family who are broke are gonna end up costing me one way or another.
     
    Last edited: Jan 18, 2018
    TempleOrion likes this.
  4. Squid Surprise

    Squid Surprise TS Evangelist Posts: 1,880   +908

    Wonder if they'll still go ahead and buy Netflix as was rumoured earlier...
     
  5. EClyde

    EClyde TS Evangelist Posts: 1,479   +519

    Dumb. The permanent underclass is a requirement for Dems
     
  6. QuantumPhysics

    QuantumPhysics TS Addict Posts: 198   +118

    What a stupid comment.

    Democrats want immigrants here to vote for them and not interfere with unions.

    REPUBLICANS want immigrants here to work here - exploited - and not vote Democrat.
     
    Reehahs and TempleOrion like this.
  7. bexwhitt

    bexwhitt TS Guru Posts: 374   +83

    They found it down the back of the sofa, it's just chump change, compared to the crazy amount of money they are sitting on and keeping out of the economy.
     
    Reehahs and TempleOrion like this.
  8. Forebode

    Forebode TS Booster Posts: 168   +38

    It would be nice to think.. that they're doing this to better the US.

    But as is pointed out.. probably not the case.

    One day, maybe, political parties and religions will stop being viewed as sports teams [it's good to have beliefs].
     
    TempleOrion likes this.
  9. petert

    petert TS Addict Posts: 248   +87

    Well, they got my blessings, after they took so much by tax evasion (Ireland anyone ??? ) and moving production to China (Jobs to Obama - those jobs aren't coming back!). And everyone was doing the same (talking about moving manufacturing to China, not frauding the US government) ... Not sure if in terms of karma benefits that'll be enough though ...
     
  10. EClyde

    EClyde TS Evangelist Posts: 1,479   +519

  11. EClyde

    EClyde TS Evangelist Posts: 1,479   +519

    I don't make stupid comments
     
  12. dj2017

    dj2017 TS Booster Posts: 107   +79

    Well I am not American, so who cares. But it is funny looking at a company advertising that it will throw 70 millions a year in the US economy for the next 5 years, when it makes billions from US citizens and probably never pays the taxes it should pay. As for the jobs creation, I guess it probably uses strange maths that involve the creation of multiple jobs in companies that work with or around Apple. For example 10 new employees are predicted to be hired in local pizzas, 10 more in local coffee shops, 10 more in local supermarkets and 5 more in newspaper stands, to bring pizzas coffees, newspapers and other stuff to the 5 employees working in a brand new Apple store. Number of new jobs created: 40.
     
  13. Avenger001

    Avenger001 TS Booster Posts: 45   +37

    Please people don't be ridiculous; The tax cuts had nothing to do with this period. They make 50 billion dollars per quarter, they did not need tax cuts to create jobs. The reason why is because of DEMAND. More demand for their current products, new products new markets they are moving into.
     
  14. EClyde

    EClyde TS Evangelist Posts: 1,479   +519

    Please take you head outta your iPhone
     
  15. Avenger001

    Avenger001 TS Booster Posts: 45   +37

    Last edited: Jan 19, 2018
  16. EClyde

    EClyde TS Evangelist Posts: 1,479   +519

  17. Avenger001

    Avenger001 TS Booster Posts: 45   +37

    Breitbart and facts don't mix.
     
  18. Squid Surprise

    Squid Surprise TS Evangelist Posts: 1,880   +908

    Here's a fact.... You DO make stupid comments...
     

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