Apple Plans To Create 20000 Jobs And Build New Campus

Apple plans to generate $350B, create 20K jobs in US next five years

Apple Announces $350 Billion Investment in US Economy, 20000 New Jobs

Apple said it plans a wave of investing and hiring in the United States and will create 20,000 jobs through hiring at its existing campus and the new one.

The EU ruled in 2016 that Apple owed Ireland $16 billion in unpaid taxes, and a spokesman for the European Commission confirmed that Apple's repatriation payment to the USA will not change that ruling.

The company already spends tens of billions of dollars annually in the its home nation, but it's going to increase its spending activities in the country to $350 billion over a five-year period. It takes credit for the app economy that provides work for thousands of developers.

To at least some degree, Apple's statement probably was directly motivated by the tax cuts.

Apple will also boost the size of its Advanced Manufacturing Fund fivefold, to $5 billion, with the money earmarked to back expansion projects of suppliers in the US.

Apple said it will now use a large chunk of the overseas cash for U.S. investments.

The company plans to establish an Apple campus in a new location, which will initially house technical support for customers. But under the new tax law, the company can bring back the money at a reduced rate. Apple said it plans to spend $55 billion with US -based suppliers in 2018, up from $50 billion a year ago.

Late past year leaked financial documents known as the Paradise Papers revealed that Apple shifted much of its offshore wealth from Ireland to a tax haven in the British Isles.

€2,000 stock windfall for Apple Cork employees as tech giant repatriates cash to US.

He also attributed his policies for allowing Apple to bring "massive amounts of money" back into the U.S.

Later in 2016, then president-elect Donald Trump publicly called out Apple's reliance on China, telling The New York Times that he would "get Apple to build a big plant in the United States, or many big plants in the United States". They're not saying yet where this new campus will be built. The $38 billion Apple expects to pay to repatriate the $250 billion the company now holds offshore is not included in the $350 billion total.

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