Apple Announces $430 Billion Investment to Create 20,000 US Jobs Over Next Five Years

[MacRumors]

Apple today reaffirmed its long-standing commitment to create jobs and opportunities in the United States by announcing a $430 billion investment over the next five years.

The new investment will help create more than 20,000 new jobs across the country and beats its previous investment of $350 billion announced in 2018. The new round of job creation will focus on innovations from 5G, next-generation silicon, and AI. CEO Tim Cook says that as countries slowly recover from the global health crisis, Apple is doubling down on its own responsibility to build a better tomorrow.

"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.

As part of today's announcement, Apple also unveiled its plan to invest over $1 billion in North Carolina and build a new engineering and research center in the Research Triangle area. This investment alone will create at least 3,000 new jobs, in addition to a $100 million support fund for local schools and communities.

Apple will also establish 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 — funds that will go toward broadband, roads and bridges, and public schools. When up and running, Apple’s investments are expected to generate over $1.5 billion in economic benefits annually for North Carolina.

Article Link: Apple Announces $430 Billion Investment to Create 20,000 US Jobs Over Next Five Years

 

[kpeex]

$21,500,000 per job?

 

[LeadingHeat]

$21,500,000 per job?

I thought that too initially, but think of all the other costs. R&D, physical buildings, and obviously the cost of the products/technology themselves.

 

[ArPe]

Noice. Best thing to create upward mobility and education because so many were bored and getting brainwashed by mad people on Zuckerberg and Dorset’s brain destruction apps.

From these investments in education and engineering new honest platforms will come that will destroy the old platforms that hurt us so much.

 

[a m u n]

$21,500,000 per job?

Read here: https://www.apple.com/newsroom/2021/04/apple-commits-430-billion-in-us-investments-over-five-years/

 

[DelayedGratificationGene]

Wow...430b....looks like Apple Car is on its way

 

[mtneer]

Hopefully they do this new areas, not just the same old same old handful of locations that seem to land these kind of deals.

 

[EugenesSoggySalami]

I wish something like this would happen in Finland, but Finland is a very poor country and unemployment rate keeps rising. I’ve been unemployed for 12 years in a row, and I don’t see myself getting a job anytime soon.

 

[EmotionalSnow]

Finland is a very poor country

That's simply wrong.

 

[uther]

I wish something like this would happen in Finland, but Finland is a very poor country and unemployment rate keeps rising. I’ve been unemployed for 12 years in a row, and I don’t see myself getting a job anytime soon.

I'm sorry for your personal situation and I hope things get better for you but Finland is in the top 15-20 countries for GDP (nominal and PPP) per capita. It is one of the richest countries on the planet. I know that doesn't help your personal situation and the other 8.4% of the working population looking for jobs but your comment is factually incorrect and misleading.

 

[MacStreamer]

As a member of the triangle I’m very excited that Apple is coming here.

 

[nycgeo]

Apple today reaffirmed its long-standing commitment to create jobs and opportunities in the United States by announcing a $430 billion investment over the next five years.

The new investment will help create more than 20,000 new jobs across the country and beats its previous investment of $350 billion announced in 2018. The new round of job creation will focus on innovations from 5G, next-generation silicon, and AI. CEO Tim Cook says that as countries slowly recover from the global health crisis, Apple is doubling down on its own responsibility to build a better tomorrow.
As part of today's announcement, Apple also unveiled its plan to invest over $1 billion in North Carolina and build a new engineering and research center in the Research Triangle area. This investment alone will create at least 3,000 new jobs, in addition to a $100 million support fund for local schools and communities.



Article Link: Apple Announces $430 Billion Investment to Create 20,000 US Jobs Over Next Five Years

Are these numbers accurate? Because they could create *** way more*** jobs than that with $430B. Like, they could employ an entire US state.

 

[matrix07]

There should be a campaign “Back To America”. Not bringing dirty manufacturing jobs to America but bring clean and modern manufacturing in area that’s possible.

 

[matrix07]

Are these numbers accurate? Because they could create *** way more*** jobs than that with $430B. Like, they could employ an entire US state.

This would likely be high paid engineers, researchers jobs.

 

[now i see it]

*Your continued employment is dependent upon record iPhone sales every year

 

[I7guy]

The timing of this announcement is strategic and telling. The last announcement was as the tax cuts and jobs act reduced their taxes and allowed them to repatriate money. It was meant to counteract those headlines and put them on Trump’s good side.

Now wirh anti trust pressure and a new admin they feel the need to announce again, 2 days prior to when they will also be announcing a raised dividend and increases buyback plan. It wouldn’t surprise me if this announcement means quite a large increase is being announced on Wednesday and this is the PR counter news.

For sure. No one every accused Apple of being stupid. Good PR move, good move. Good for US, good for the tech industry. win-win-win.

 

[ThunderSkunk]

Building spaceships & computer systems sounds great until you realize you’d be stuck living in some medieval backwater where these companies could score some cheap space without paying taxes. Get out of work creating rockets and futuristic tech, and step foot into a culture obsessed with starting a new civil war to purge anyone representing culture newer than the 1860s. Wow, where do I sign up...

 

[guzhogi]

Would like to see investments in manufacturing & job training & recruitment for manufacturing. I realize other countries might be cheaper and companies are "supposed" to maximize profits. However, with the latter, why does that need to be the case? Yes, profits are good, but I find only when they're reinvested in the company. Either get better equipment, improve employee skills & benefits (happy, healthy employees are productive employees, after all!), etc. Hoarding money & big bonuses to C-level executives don't help the economy that much, I find.

 

[bwayne]

This makes brand loyalty really meaningful. Hopefully they’ll build out more domestic high end chip fabrication capacity.

 

[rpmurray]

At least now we know where Apple is going to hide that $50 million ransomware payment.

 

[ThunderSkunk]

$21,500,000 per job?

I‘ll take the job for half that.

 

[BuffaloTF]

I‘ll take the job for half that.

Pff. And I'm going to undercut you and take half what you would.

 

[DekuBleep]

Great news!

 

[Td1970]

For sure. No one every accused Apple of being stupid. Good PR move, good move. Good for US, good for the tech industry. win-win-win.

That is apples strength.

 

[siddavis]

I thought that too initially, but think of all the other costs. R&D, physical buildings, and obviously the cost of the products/technology themselves.

Fair enough, but if you read the release, they are factoring all of that in.

"Apple’s $430 billion in contributions to the US economy include direct spend with American suppliers, data center investments, capital expenditures in the US, and other domestic spend — including dozens of Apple TV+ productions across 20 states, creating thousands of jobs and supporting the creative industry."

So, even if 99% of it went to physical material and not associated costs of jobs, that still leaves $215,000 per job. That's assuming 99%!!

I'm not trying to be critical of a company investing nearly half a trillion dollars. This is good news no matter how it is sliced and diced. It's just curious. Perhaps they are not taking credit for jobs at suppliers that already exist etc. Factoring that in, it can add up very quickly and probably makes sense. And again, 20k (obviously) great paying jobs is really awesome.