iPhone maker Apple is planning to invest over $30 billion in capital expenditures (Capex) in the US over the next five years and create over 20,000 new jobs.
Apple already employs 84,000 people in all 50 states in the US. Apple said it is responsible for creating and supporting over 2 million jobs across the United States and expects to generate more jobs.
The company plans to set up an Apple campus in a new location, which will initially house technical support for customers. Apple will announce the location of this new facility later in the year.
Apple will be investing over $10 billion in data centers across the US. Apple — over the last decade – has invested billions of dollars in data centers and co-located facilities in seven US states, including North Carolina, Oregon, Nevada, Arizona, and a recently announced project in Iowa.
Apple is starting a new facility in downtown Reno in order to support its existing Nevada facilities.
The US-based tech company said 100 percent renewable or green energy sources like solar, wind and micro-hydro power, is powering all of Apple’s US facilities, including offices, retail stores and data centers.
Apple is increasing the size of the Advanced Manufacturing Fund from $1 billion to $5 billion to support innovation among American manufacturers and help others establish a presence in the US. The Apple fund is already backing projects with manufacturers in Kentucky and rural Texas.
Apple works with over 9,000 American suppliers in all 50 states.
Apple said its current pace of spending with domestic suppliers and manufacturers will be an estimated $55 billion for 2018. Apple’s direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple’s tax payments, tax revenues generated from employees’ wages and the sale of Apple products.
Planned capital expenditures in the US, investments in American manufacturing over five years and tax payment upon repatriation of overseas profits will account for approximately $75 billion of Apple’s direct contribution.
Tim Cook, Apple’s CEO, said: “We are focusing our investments in areas where we can have a direct impact on job creation and job preparedness.”
Apple, already the largest US taxpayer, anticipates repatriation tax payments of $38 billion as required by recent changes to the tax law.
