As part of a $430 billion investment over five years in the US, Apple is to build a new campus for AI research and software engineering
Apple has announced a massive commitment to spending and investments in the United States over the next five years, including a new $1 billion campus in North Carolina.
As part of its announcement on Monday, Apple also said it plans to commit $430 billion in the US over the next five years, that is expected to create 20,000 new jobs across the country.
It comes after Apple recently announced a $200m ‘Restore Fund’, with the aim of making investments in forestry projects to remove carbon from the atmosphere, as part of Apple’s broader goal to become carbon neutral across its entire supply chain by 2030.
Earlier this month Apple had detailed its progress to ensure its supply chain and products are carbon neutral by 2030.
It also revealed it was investing directly in a major energy storage project in California to pilot new solutions for renewable infrastructure.
But now Apple has revealed a $430 billion investment plan in the United States over the next five years.
“At this moment of recovery and rebuilding, Apple is doubling down on our commitment to US innovation and manufacturing with a generational investment reaching communities across all 50 states,” said Tim Cook, Apple’s CEO.
“We’re creating jobs in cutting-edge fields – from 5G to silicon engineering to artificial intelligence – investing in the next generation of innovative new businesses, and in all our work, building toward a greener and more equitable future,” Said Cook.
Apple said that currently it supports more than 2.7 million jobs across America via direct employment, including suppliers and manufacturers, and developer jobs.
The firm said it is also the largest taxpayer in the US and has paid almost $45 billion in domestic corporate income taxes over the past five years alone.
Apple said that as part of its mammoth US investment, it will spend over $1 billion in North Carolina and will begin construction on a new campus and engineering hub in the Research Triangle area.
This investment will create at least 3,000 new jobs in machine learning, artificial intelligence, software engineering, and other cutting-edge fields, Apple said.
The firm is also establishing a $100 million fund to support schools and community initiatives in the greater Raleigh-Durham area and across the state, and will be contributing over $110 million in infrastructure spending to the 80 North Carolina counties with the greatest need.
When up and running, Apple’s investments are expected to generate over $1.5 billion in economic benefits annually for North Carolina.
Construction for Apple’s $1 billion Austin (Texas) campus is already underway, with employees expected to start moving into the space next year.
Other investments include Apple expanding its teams in several states, such as California, Colorado and Massachusetts.