Tech Giant INVESTS $350 BILLION in USA, Creates 20000 JOBS — APPLE RETURNS

Tech Giant INVESTS $350 BILLION in USA, Creates 20000 JOBS — APPLE RETURNS

MCEVERS: So what else is in this big announcement?

Apple has announced plans to build a new campus in the United States, in addition to the recently completed Apple Park, as part of a major investment and job creation strategy.

Chicago Mayor Rahm Emanuel joined suburban mayors from Naperville, Hoffman Estates, Oakbrook, and Schaumburg in saying they will try to attract the new campus. With that initial focus on technical support, however, it should mean that Apple can build it anywhere in the United States and isn't necessarily limited to building in Cupertino.

So, what do you need to know? This new campus will be built in downtown Reno to support existing Nevada facilities. And last summer, the company announced plans for a 400,000-square-foot data center in Waukee, Iowa, to power Apple services.

But these apparent commitments to the USA aren't without controversy. "We have a deep sense of responsibility to give back to our country and the people who help make our success possible".

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. Apple said it was the largest us taxpayer. The fun aims to bolster American manufacturers. So $5 billion will go to that.

Apple's Advanced Manufacturing Fund was launched in early 2017 as a $1 billion fund.

However, it is not clear whether the plans are new; and Apple has not announced any changes to its manufacturing model, which is based on Asian factories. Apple always owed taxes on this money, but didn't have to actually pay it until it was repatriated. And after it pays this tax, it can do what it wants with what's left and isn't under any requirement to bring that cash physically back to the USA to invest here. It brought down the amount of tax Apple would have to pay for bringing profits back into the U.S. The rest - it's hard to say.

"Apple CEO Tim Cook has been a critic of American tax laws".

Apple joins a growing number of other American companies, including AT&T Inc., Comcast Corp., JetBlue Airways Corp., and Wal-Mart Stores Inc., offering generous bonuses and raises to its employees following the passage of the tax law.



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