Apple announced that it is accelerating its investments in the U. S. standing by its commitment to support the US economy. With Apple’s current phase of spending with domestic suppliers and manufacturers, the company estimates a $55 billion contribution for 2018 and a total of $350 billion in the next five years.
The overall contribution of $350 will not include the Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of products. The company further mentioned that it is looking at investing $30 billion over the next five years and create over 20,000 new jobs through hiring at existing campuses and opening a new one.
Apple is also planning to open a new campus in a new location which will be announced later this year and this new campus will initially employ technical support for customers. Over $10 billion of Apple’s expanded capital expenditures will be investments in data centers across the US. Apple has also announced that it is starting its work for a new facility in downtown Reno, which will support its existing Nevada facilities.
Like most Apple facilities, the new campus announced today will also be powered entirely by green energy. The Cupertino company also said that it is increasing its advanced manufacturing fund from $1 billion to $5 billion to support local American manufacturers. On a different note, Apple on Wednesday told its employee’s that it is issuing a bonus of $2,500 worth of restricted stock units, following the introduction of the new U.S. tax law.
The company will be issuing the grant for most employees worldwide in the coming months and this move comes from Apple goals to bring back foreign cash and resources and spend $30 billion in the U.S in the next five years. Tim Cook mentioned that Apple would contribute twice the amount of each employee’s charitable donations, up to $10,000, till the end of the year.