Yesterday via a press release, Apple announced a series of investments for supporting the American economy and workforce in three major aspects, based on which the company is known to expand in creating jobs. These aspects are direct employment, domestic suppliers and manufacturers investments, and accelerating the fast-growing app economy.
First of the new investments is more than $30 billion in capital expenditures that will create more than 20,000 jobs, not just on existing campuses but also on a new one. This new campus will be built in downtown Reno to support existing Nevada facilities. Apple is presently breaking ground in Reno. More than $10 billion in investments of capital expenditures will go to the nation’s data centers.
Secondly, Apple is investing $5 billion in the advanced manufacturing fund. Capital expenses, tax payments after the recent repatriation, and investments in manufacturing in the U. S. collectively account for $75 billion that they are directly contributing to the nation’s economy. The tech titan, being the largest taxpayer in the States, expects to pay about $38 billion as repatriation tax, according to recent tax law changes.
Thirdly, the company is coming up with new plans in education based on its 40-year history in the same in terms of coding. Apart from expanding in the existing initiatives for the students, new programs are as well to be introduced for ‘teachers and teacher training.’ One highlight in this regard is Apple’s increment in funding for the ConnectED program that aims at developing of students belonging to historically underserved communities.
The new Apple investments, along with the tech giant’s present incremental expenditure on domestic suppliers and manufacturers, together make about $55 billion in this year. This is expected to go to over $350 billion in the span of coming 5 years. It does not include the company’s current tax payments, tax revenues derived from wages of employees, and its product-sales.