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.
https://www.techspot.com/news/72806-apple-inject-350-billion-us-economy-over-next.html
