Apple has announced a range of investments it claims will bring a total of $350 billion into the US economy, highlighting its focus on jobs. The iPhone maker is determined to show that it’s committed to bringing investments back into the US economy despite the fact that it participates in tax moves and takes manufacturing in foreign countries.
The company expects to spend $30 billion in capital expenses that will help create more than 20,000 new positions over the next 5 years. These jobs will be at its existing buildings and a new location that will focus on tech support. The location will be unveiled later in 2018.
Apple will also be pouring more cash into domestic manufacturing, something many companies haven’t done. The company bringing its Advanced Manufacturing Fund from $1 billion to $5 billion, which will help existing American suppliers and foreign firms to help get them setup in the US.
In addition to everything so far, the company will be helping the next generation of students. It’s expanding the current efforts to support coding and STEAM (Science, Technology, Engineering, Arts and Math) programs and will be adding new programs to help teachers. Apple is investing more cash into its share of government’s ConnectED program to ensure that students in less fortunate communities have the necessary hardware and other resources to learn the tech0related skills needed to succeed.
Many companies are under pressure to show that they’re contributing to the US economy, and this is where Apple comes in to show their commitment in their own way. We’re seeing several companies slashing jobs while Apple comes in to say that they’re investing more. We don’t have specifics on how Apple will contribute $350 billion or how those new jobs will be split, but at least for the next five years, Apple will be making a huge commitment.