The Strategist

Apple sets to invest billions of dollars to support the US economy

04/27/2021 - 03:57

US Apple plans to invest more than $430 billion in businesses in the US over the next five years and create 20,000 new jobs across the country, the company said in a statement.

"Over the past three years, Apple's contribution to the US has significantly exceeded the company's original five-year goal of $350 billion set in 2018. Apple is now raising its commitment level by 20% for the next five years, supporting American innovation and the economy in every state. The investment includes tens of billions of dollars in next-generation chip development and 5G innovation in nine US states," the company wrote.

Apple's new investment in the US includes direct spending related to US suppliers, investment in data centres, US capex and other domestic spending, including Apple TV+ projects in 20 states and the creation of thousands of jobs.

"Apple is on track to meet its 2018 goal of creating 20,000 new jobs in the US by 2023. With today's new commitment, Apple aims to create 20,000 additional jobs in states across the country over the next five years," the company wrote.

Apple, founded in 1976, makes personal and tablet computers, audio players, phones, smart watches and software.