Apple Earmarks $ 430 billion for American innovations

Apple increases its investment in the United States to more than $ 430 billion over the next five years and creates some 20,000 new jobs in the country.

Apple CEO Tim Cook said in a Press release on Monday (April 26) that the tech company “doubles” its pledge to invest in technology and manufacturing, with a “generational investment” meant to extend to all communities in all 50 states. “We are creating jobs in cutting-edge fields – from 5G to silicon engineering to artificial intelligence – by investing in the next generation of new innovative companies, and in all of our work we are building towards a future greener and fairer, ”he said.

Over the past 36 months, Apple has invested in the United States beyond what the company initially set aside to meet its five-year goal of $ 350 billion nationwide. Over the next five years, the tech giant plans to invest 20% more in an effort to drive innovation and financial benefits in every U.S. state.

The Silicon Valley iPhone maker supports more than 2.7 million jobs in the United States through a number of modalities – overall employment, vendor spending, manufacturing support, and iOS developer jobs. According to the statement, Apple said it was the largest taxpayer in the country, with nearly $ 45 billion in taxes contributed to national corporate taxes since 2016.

Investments in individual states include construction of Apple’s $ 1 billion Austin campus, which is already underway. Apple’s planned $ 430 billion in new contributions to the U.S. economy will also include investments in data centers, direct spending with vendors, and additional Apple TV + productions in 20 states.

The iPhone maker recently held its annual Spring Loaded event and announced a number of new offerings, including a new display for the iPad Pro and improvements for the iMac. Apple TV is also slated for feature-rich upgrades. Held at Apple Park, the company’s headquarters in Silicon Valley, the event focused on new technologies, specifically the company’s M1 chip.

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